The Input Contract Curve Represents

question 15

Multiple Choice

The input contract curve represents:

• A)All consumption good allocations in an Edgeworth box that are exchange efficient.
• B)all input allocations in an Edgeworth box for inputs that are economically efficient.
• C)All possible combinations of consumption goods that can be produced in an economy given the economy's available supply of inputs.
• D)the different combinations of capital and labor inputs that will produce a given level of output for a particular good.

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Definitions:

Montesquieu

A French political philosopher of the Enlightenment period, best known for his theory of separation of powers, which has been incorporated into many constitutions around the world.

Charles Beard

An influential American historian who proposed that the U.S. Constitution was a product of economically motivated interests.

Constitution

The system of fundamental principles or established precedents according to which a state or other organization is governed.

Economic Interests

The financial stakes or concerns in a policy, project, or action that motivates individuals, groups, or nations.