The marginal utility gained from the consumption of successive units of a typical good:
A. tends to decrease.
B. tends to increase.
C. may increase or decrease depending on the cost of the good.
D. tends to stay the same.
A. tends to decrease.
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According to the Ricardo-Barro effect, what is the effect on the real interest rate of a government budget surplus?
What will be an ideal response?
Trade between two nations:
A) results in the maximization of total production. B) reduces global production. C) leads to a maximization of production in one nation and minimization of production in the other. D) is inefficient compared to when both do not indulge in international trade.
Refer to Figure 7-4. The efficient quantity of medical services is
A) 200. B) 500. C) 700. D) >700.
An increase in accrued wages during the accounting period represents an increase in cash.
a. true b. false