Diminishing marginal utility means that
A) Ralph will enjoy his second hamburger less than the first.
B) the total utility from one hamburger exceeds the total utility from two hamburgers.
C) the price of two hamburgers is twice the price of one.
D) beyond a certain point, total utility decreases as income rises.
A
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The ability to produce a product at a lower resource cost than another nation can produce the same product is called comparative advantage
Indicate whether the statement is true or false
The Phillips Curve implies a trade-off between
A) investment and saving. B) inflation and unemployment. C) employment and income. D) investment and government deficits.
The U.S. financed WWI primarily by:
a. increasing personal income taxes. b. increasing corporate taxes and luxury taxes. c. borrowing from the public. d. printing new money.
Examples of incentive pay include
a. allowing employees a certain number of personal days b. providing onsite parking for employees c. bonuses for meeting deadlines d. offering a certain number of sick days