The slope of the PPF can be expressed as:
a. the ratio of abundance of capital to labor.
b. the preferences of consumers in terms of marginal utility.
c. the ratio of the quantities of good 1 and good 2.
d. the negative of the ratio of the marginal products of labor in producing each good
Ans: d. the negative of the ratio of the marginal products of labor in producing each good
Economics
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All of the following are shown on a firm's income statement except
A) revenues B) rate of return for investors C) costs D) profits
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If the demand for a good increases because consumer income increases, the good is a(n):
a. inferior good. b. normal good. c. necessity good. d. luxury good.
Economics