The No Marginal Improvement Principle tells us that, at the best choice:
A. the marginal benefit of the last unit must be at least as large as the marginal cost and the marginal benefit of the next unit must be no greater than the marginal cost.
B. marginal cost and marginal benefit of the last unit must always be equal.
C. the marginal benefit of the last unit must be at least as large as the marginal cost and the marginal benefit of the next unit must be greater than the marginal cost.
D. small changes in the level of an activity will always increase net benefit.
A. the marginal benefit of the last unit must be at least as large as the marginal cost and the marginal benefit of the next unit must be no greater than the marginal cost.
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Based on the information in the table, the total amount of bank deposits decreased from ________ to ________ over the course of 1932. Currency held by public(in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. $37.3 billion; $34.0 billion B. $34.2 billion; $30.8 billion C. $32.7 billion; $29.2 billion D. $37.3 billion; $32.7 billion
An increase in the demand for corn is more than offset by an increase in its supply. As a result, the equilibrium price will ________ and the equilibrium quantity will ________.
A. decrease, increase B. increase, increase C. decrease, decrease D. increase, decrease
Including younger Americans from the age of _____, almost half of Americans report they currently use alcohol
a. 12 b. 14 c. 15 d. 18 e. 21
Which of the following expenditures would be counted as consumption in GDP accounts? a. Mary buys a new home computer to check her e-mail and play computer games. b. Mark buys a new computer for his medical economic consulting business
c. Leslie, an EPA scientist, buys a new computer for her lab at work. d. Juan leases a new computer for his graphic design company.