1. Why is it necessary to assume that there is a diminishing marginal rate of technical substitution between capital and labor?
2. A decrease in the demand for dollars by the rest of the world will cause the dollar to appreciate or depreciate?
3. Why is counterbalancing important for a repeated measure/within subject design?
4. Explain why most of the world's governments choose to fully subsidize K-12 education. Use a graph to substantiate your answer.