Suppose your marginal utility from consuming the 3rd slice of cake is zero, then your total utility from consuming cake is

A) negative. B) increasing. C) maximized. D) decreasing.


C

Economics

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Which of the following is NOT a reason that real GDP is a poor measure of a nation's economic welfare?

A) Real GDP omits measures of political freedom. B) Real GDP does not take into account the value of people's leisure time. C) Real GDP does not include the underground economy. D) Real GDP overvalues household production.

Economics

Is it possible for technological change to be negative? If so, give an example

What will be an ideal response?

Economics

When money prices are used to facilitate comparisons of value, money is said to function as a

A) unit of account. B) medium of exchange. C) store of value. D) payments-system ruler.

Economics

Net exports of goods are known as

A) the balance of payments. B) the merchandise trade balance. C) the current account. D) the financial account.

Economics