The extra benefit associated with producing or consuming the next unit is called the:
A. economic benefit.
B. marginal benefit.
C. revenue product.
D. spillover.
Answer: B
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Debt deflation occurs when
A) an economic downturn causes the price level to fall and a deterioration in firms' net worth because of the increased burden of indebtedness. B) rising interest rates worsen adverse selection and moral hazard problems. C) lenders reduce their lending due to declining stock prices (equity deflation) that lowers the value of collateral. D) corporations pay back their loans before the scheduled maturity date.
When there is an inflationary gap there is
A. too much spending and taxes should be raised. B. too much spending and taxes should be lowered. C. too little spending and taxes should be raised. D. too little spending and taxes should be lowered.
Which of the following would be classified as a personal consumption expenditure?
A. Your purchase of this economics course. B. Your purchase of a newly constructed house C. Your purchase of a preowned house. D. Your purchase of one share of Microsoft stock.
Unequal pay that is caused by economic discrimination will be due to
A) a noneconomic factor. B) differences in the marginal revenue product. C) a monopolistic labor market. D) difference in human capital.