The rate at which one good can be converted technologically into another is called
A) the marginal rate of transformation.
B) the marginal rate of substitution.
C) the marginal product of labour.
D) the marginal product of capital.
E) rate of conversion.
Correct Answer:
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Q46: An increase in total factor productivity shifts
Q47: Changes in government spending are NOT likely
Q48: The second fundamental theorem of welfare economics
Q49: The marginal rate of transformation is equal
Q50: The production possibilities frontier in the one-period
Q52: Changes in government spending are NOT likely
Q53: An example of a public good is
A)transfer
Q54: Immunization from communicable diseases generate
A)the provision of
Q55: An increase in total factor productivity
A)increases consumption,
Q56: A competitive equilibrium is a state of
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