The slope of the isoquant tells the firm how much
A) output increases when labor increases by one unit.
B) output increases when capital and labor are doubled.
C) capital must decrease to keep output constant when labor increases by one unit.
D) a unit of capital costs relative to the cost of labor.
C
Economics
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Suppose the nominal interest rate is 2% and the real interest rate is -3%. We can deduce that the rate of inflation is
A) 0%. B) 2%. C) 3%. D) 5%.
Economics
If a large percentage of economic activity in developing countries is unrecorded, then the countries are likely to rely on which of the following taxes to provide government revenue?
A) Sales taxes B) Property taxes C) Income taxes D) Tariffs
Economics