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Author Question: The lower-income industrial countries are catching up to the higher-income industrial countries in ... (Read 56 times)

savannahhooper

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on: Jun 29, 2018
The lower-income industrial countries are catching up to the higher-income industrial countries in terms of economic growth.
 
  Indicate whether the statement is true or false

Question 2

What is meant by the marginal rate of transformation?
 
  What will be an ideal response?


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Natalie4ever

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

The marginal rate of transformation is the slope of the production possibility frontier. It is the ratio of the change in the good (or service) on the y-axis to the change in the good (or service) on the x-axis.


savannahhooper

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Reply 2 on: Jun 29, 2018
Gracias!

olderstudent

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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