The slope of the budget line is equal to the ratio of:
a. marginal utilities.
b. money income to the price of the good on the horizontal axis.
c. money income to the price of the good on the vertical axis.
d. price of the good on the horizontal axis to the price of the good on the vertical axis.
d
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If you observed the wage rate decreasing while employment increased, which of the following would be a possible explanation?
a. A decrease in labor demand b. A decrease in labor demand coupled with a decrease in labor supply c. An increase in labor supply d. A decrease in labor supply e. It is not possible for the wage rate to decrease while employment is increasing
The Chinese, like the Japanese before them, have insisted on licensing agreements and large-scale transfer of technology as the price to agreeing to accept imports. But the Chinese have taken this process one step further by ______________________________________.
Fill in the blank(s) with the appropriate word(s).