Total utility increases if one more unit of a product is purchased and marginal utility is negative.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 7-5. With insurance and a third-party payer system, what price do doctors receive for medical services?
A) $40 B) $55 C) $65 D) > $65
External shocks to the stock market have little impact on stock prices since investors consider only the long run.
Answer the following statement true (T) or false (F)
If the number of workers in an economy doubled, all other inputs stayed the same, and there were constant returns to scale, productivity would
a. fall to less than one-half of its former value. b. fall, but it would still be greater than one-half of its former value. c. stay the same. d. rise but less than double.
The demand for dollars in the foreign exchange market
A. Is represented by a point in a diagram of foreign exchange supply and demand. B. Depends on U.S. demand for foreign goods and services. C. Is the ratio of the dollars demanded to the amount of foreign currency supplied. D. Depends in part on the foreign demand for U.S. goods.