There are significant differences in the general character of cost structures among various types of firms such as fishing, farming, and automobile manufacturing

Moving along the aggregate demand curve, a decrease in the quantity of real GDP demanded is a result of

A) an increase in the price level. B) a decrease in the price level. C) an increase in income. D) a decrease in income.

The slope of the budget line represents:

A. the budget rate of substitution. B. the opportunity rate of substitution. C. the market rate of substitution. D. the marginal rate of substitution.