Exhibit 6A-6 Consumer equilibrium
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As shown in Exhibit 6A-6, the marginal rate of substitution (MRS) at point X is ____ the marginal rate of substitution at point Y.

Hyperinflation usually starts when:

A. people start spending too much money. B. firms demand higher and higher prices for their goods. C. governments are forced to print money to finance their spending. D. fiscal deficits are small.

The best way to think of the short run and the long run is as

A) specific periods of time, although the time periods may differ across industries. B) planning terms that apply to managers. C) concepts that apply to all people who work for a firm. D) a concept that only accountants are concerned with.