The principle of diminishing marginal utility states that marginal utility:
A. is positive.
B. falls after some point.
C. is always falling.
D. is negative.
Answer: B
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Parity pricing refers to
a. a price floor that creates a desired relationship between the prices farmers have to pay for goods they buy and the prices they get for goods they sell b. a price ceiling that creates a desired relationship between the prices farmers have to pay for goods they buy and the prices they get for goods they sell c. the subsidization of farm prices in markets where new technology is adapted d. the government's price intervention to create parity among various farm product prices, such as the price per bushel of corn, wheat, or soybeans e. the government's price intervention to create income equality (or parity) among farms producing identical goods, such as corn or cotton, according to farm size
When demand for a product is very inelastic, the burden of a tax falls mainly on
a. producers. b. consumers. c. tax collectors. d. people who drop out of the market.
The knowledge and skills possessed by the workforce is known as
A. The inequality trap. B. Human capital. C. Human finance. D. Investment capital.
If the length of time workers are eligible to receive unemployment insurance payments doubles?, then the unemployment rate will
What will be an ideal response?