If marginal utility is positive, then total utility is:
a. constant.
b. negative.
c. increasing.
d. decreasing.
e. zero.
c
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Bonds that are rated in the D category are of higher quality than bonds that are rated in the A category.
Answer the following statement true (T) or false (F)
F statistic can be used to test nonnested models.
Answer the following statement true (T) or false (F)
Social Security and Medicare are examples of
A) capitalism. B) free market functions. C) market failures. D) governmental interventions.