The negative relationship between the quantity demanded of a commodity and its price can be explained by the principle of
A. increasing total utility.
B. contingent valuation.
C. diminishing marginal utility.
D. indifference analysis.
Answer: C
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Which of the following is the largest expenditure item of local governments?
A. Education B. Public safety C. Highways D. Welfare
If the fraction of the economy's nominal GDP held by the public in the form of money is 20 percent, income velocity in the economy is
A) 5. B) 80 percent. C) 0.20. D) 20.
Which of the following is true about games in which people have different information?
A. The behavior of the participants in the game reveals little to no information. B. Participants in these games can sometimes have an incentive to mislead others through their behavior. C. Participants in these games always act in a way contrary to his immediate interests. D. These games never have a Nash equilibrium.
During 2001-2011, what happened to the federal budget deficit?
What will be an ideal response?