What is the marginal utility of the fourth can of soda?Cans of SodaTotal utilityMarginal utility114 2 12336 444 5 6
A. 10 units of utility
B. 2 units of utility
C. 44 units of utility
D. 8 units of utility
Answer: D
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Suppose a nation's real Gross Domestic Product (GDP) grows at a rate of 2 percent per year while its population grows 2 percent annually. Given this information, this nation's annual rate of per capita real GDP growth is equal to
A) 1 percent. B) -1 percent. C) 0 percent. D) 4 percent.
If the U.S. population grew at a 0.9 percent and real GDP grew at a 4.4 percent during the same period, what was the growth rate of real GDP per person?
A) 4.0 percent B) 4.4 percent C) 5.3 percent D) 3.5 percent E) -3.5 percent
Laws that governments enact to regulate prices are called price barriers.
Select whether the statement is true or false. A. True B. False
Which of the following is the situation in which firms outside a trade bloc shift the final assembling process of partially assembled products into a member nation of the bloc and then export the finished products to other nations within the bloc?
A. rules of origin B. trade retention C. trade diversion D. trade deflection