We assume the marginal benefit of consumption ________ as we consume fewer units of a good.
A. decreases
B. increases
C. remains constant
D. could either increase or decrease
Answer: B
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A diagram shows the quantity of tomatoes on the horizontal axis and the quantity of coffee on the vertical axis. The quantity of tomatoes remains constant as the quantity of coffee increases. The graph of these data is
A) a horizontal line. B) a vertical line. C) a positively sloped line. D) a negatively sloped line
An international producer is trying to centralize its R&D. This is consistent with it trying to
a. Set up a functional division b. Take advantage of the economies of scale c. Take advantage of the learning curve effect d. All of the above
Refer to the information provided in Table 23.9 below to answer the question(s) that follow. Table 23.9
Refer to Table 23.9. Which of the following statements is false?
A. At an output level of $200 billion, there is a $60 billion unplanned inventory decrease. B. At output levels greater than $400 billion, there is a positive unplanned inventory change. C. If aggregate output equals $500 billion, then aggregate saving equals $0. D. The MPC for this economy is 0.8.
Protective tariffs will tend to shift:
A. Supply toward foreign products B. Demand toward foreign products C. Demand toward domestic products D. Have no effect on demand or supply