When foreign residents buy U.S. Treasury securities to finance the budget deficit
A) we can also anticipate a decrease in the trade deficit.
B) the trade deficit will not be affected.
C) we can also anticipate an increase in the trade deficit.
D) the public debt will be reduced.
C
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Which of the following is a property of an isoquant?
a. It is concave to the origin. b. Its slope is given by the ratio of the marginal products, for example, (marginal product of capital) รท (marginal product of labor), where capital and labor are measured on the Y and X-axes respectively. c. It gives the lowest-cost way of producing a certain level of output. d. Isoquants cannot intersect each other.
The marginal revenue product is
A) the change in total output resulting from a one-unit change in variable output. B) the change in marginal output resulting from a one-unit change in variable input. C) the change in total revenue resulting from a one-unit change in variable input. D) the change in marginal revenue resulting from a one-unit change in variable input.