Refer to Scenario 16.2. What is Sally's marginal rate of substitution of tee shirts for candy at the current distribution?
A) 7/2.
B) 2
C) 1/2.
D) It is impossible to determine without the prices of each commodity.
B
Economics
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Suppose that real GDP starts at 100 and grows at a rate of 10 percent per year for two years. In the third year real GDP would be
A) 110. B) 110.1. C) 120. D) 121.
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Activists believe ________
A) the self-correcting mechanism in the economy is very slow B) in the adoption of policies to eliminate excessive unemployment C) doing nothing will leave too many people out of work for too long D) all of the above E) none of the above
Economics