Explain the relationship between relative prices and the slope of a country's production possibilities frontier
What will be an ideal response?
Under perfect competition, the two slopes will be equal. This insures that production occurs at the point where price equals marginal cost.
Economics
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The demand for money curve shifts rightward if
A) the price level increases. B) real GDP increases. C) the nominal interest rate increases. D) the real interest rate decreases.
Economics
Job amenities: a. have no impact on the supply of labor
b. are not part of the compensation workers receive from employers. c. help determine the position of the labor supply curve. d. never affect the monetary wages paid to workers.
Economics