A. expenditure set
B. isocost line.
C. budget constraint
D. isoquant
Related Mcqs:
- A graph showing all the combinations of capital and labor that can used to produce a given amount of output is ?
A. an indifference curves.
B. an isoquant.
C. an isocost line
D. a production functions - A graph showing all the combinations of goods and services that can be produced if all of society’s resources are used efficiently is a ?
A. capital consumption frontier.
B. Lorenz curve.
C. Circular-flow diagram.
D. Production possibility curve. - The Phillips curve is a graph showing the relationship between ?
A. the price level and the unemployment rate
B. the inflation rate and the unemployment rate
C. the level of aggregate output and the price level
D. the inflation rate and the level of aggregate demand - The sum of total income received for the services of labor, land or capital in a country is called?
A. Gross domestic product
B. National income
C. Gross domestic income
D. Gross national income - Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ?
A. the unscrupulous to enter the underground economy
B. the elderly to retire early.
C. all the things described in these answers.
D. second earners to stay home.
E. workers to work fewer hours - Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
A. quickly
B. slowly
C. very infrequently
D. instantly - Copper may be found native that is in its pure state but is more often found in chemical combinations with ?
A. Iron, gold and silver
B. Gold, silver and lead
C. Iron, lead and sulphur
D. All of the above minerals - The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero - When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
A. greater than average cost, greater than average cost
B. less than average cost, greater than average cost
C. less than average cost, less than average cost
D. greater than average cost, less than average cost
