Which of the following is not a coincident indicator of the business cycle?
a. Unemployment claims
b. Payroll employment
c. Industrial production
d. Personal income
e. Manufacturing and trade sales
a
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Exhibit 6A-6 Consumer equilibrium
?
As shown in Exhibit 6A-6, the marginal rate of substitution (MRS) at point X is ____ the marginal rate of substitution at point Y.
A. less than B. greater than C. equal to D. twice
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. The slope of Country A's production possibilities frontier:
A. measures the trade-off that Country A face when deciding how to allocate resources. B. measures the opportunity cost of trucks in terms of cars. C. is constant because the opportunity cost remains constant. D. All of these statements are true.