The real wage is determined by
A) -(slope of PPF) .
B) the marginal rate of transformation.
C) +(slope of indifference curve) .
D) the marginal product of capital.
E) the competitive equilibrium.
Correct Answer:
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Q7: A Pareto optimum requires
A)
Q8: Points on the production possibilities frontier have
Q9: An externality is any activity for which
Q10: A Pareto optimum is a point that
A)a
Q11: Intertemporal substitution of labour suggests that
A)in the
Q13: A competitive equilibrium is Pareto-optimal if there
Q14: The substitution effect that results from a
Q15: According to the Laffer Curve
A)higher tax rates
Q16: The first fundamental theorem of welfare economics
Q17: The government spending multiplier is
A)the ratio of
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