Mia wants to buy a book. The economic perspective suggests that Mia will buy the book if the
A. marginal cost of the book is greater than or equal to its marginal benefit.
B. marginal cost of the book is affordable for her.
C. marginal benefit of the book is greater than zero.
D. marginal benefit of the book is greater than or equal to its marginal cost.
Answer: D
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Why does the marginal benefit curve have a negative slope?
What will be an ideal response?
At any point along the LM curve,
A) the quantity of money demanded equals the quantity of money supplied. B) the economy must be in general equilibrium. C) the nominal interest rate must equal the real interest rate. D) saving must equal investment.
During the second half of the 19th century, export demand for U.S. agricultural products
a. declined. b. increased. c. remained static. d. experienced chaotic periods on increase and decrease.
If Switzerland chooses to engage in trade, it
a. will only benefit if it trades with countries that produce goods Switzerland cannot produce. b. cannot benefit if it trades with less developed countries. c. should first attempt to produce the good itself. d. can benefit by trading with any other country.