The marginal rate of substitution is the
A. rate at which the consumer increases utility.
B. absolute value of the indifference curve.
C. tradeoff rate between the two goods under consideration at any particular point.
D. total utility derived at any point.
Answer: C
Economics
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A) productivity is independent of technology changes B) productivity can only increase over time C) productivity is subject to diminishing returns D) capital and labor are subject to diminishing marginal returns
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The critical elements of discretionary fiscal policy are
A. tax policy and spending policy. B. a progressive income tax and a welfare state. C. interest rates and tax rates. D. interest rates and the money supply.
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