The board of education of a school district faced with a surplus of teachers, but unable to lower salaries because of union contracts, will
A) be unable to balance the quantity supplied with the quantity demanded.
B) have to hire fewer teachers than it wants to.
C) have to hire more teachers than it wants to.
D) tend to have relatively few young teachers on its payroll.
D
Economics
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The marginal rate of substitution
A) is minus the slope of the indifference curve. B) can be computed by measuring the curvature of the indifference curve. C) cannot be deduced from the properties of the indifference curve. D) can only be computed if we know the prices of all goods.
Economics
In calculating the IS curve, _______ is taken as exogenous
a. the interest rate. b. aggregate income. c. the price level. d. planned investment. e. a and d.
Economics