Rational people make decisions at the margin by
a. following marginal traditions.
b. behaving in a random fashion.
c. thinking in black-and-white terms.
d. comparing marginal costs and marginal benefits.
d
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Which of the following is true of the aggregate demand curve?
a. The aggregate demand curve shows the various levels of expenditures in the economy at alternative price levels. b. The aggregate demand curve implies a positive relationship between inflation and unemployment. c. The aggregate demand curve is identical to the income consumption curve. d. The aggregate demand curve has the same slope as the aggregate supply curve. e. The aggregate demand curve relates relative prices to the quantity demanded of a particular good.
The structural deficit/surplus budget
a. measures the federal budget deficit/surplus as if the economy were at full employment. b. measures the federal budget deficit/surplus as if the economy were in recession. c. measures the federal budget deficit/surplus as if the economy were suffering from high inflation. d. is used when structural unemployment is at a peak.
Suppose two variables are inversely related. If one variable rises, then the other variable:
A. also rises. B. falls. C. remains unchanged. D. reacts unpredictably.
Governments that steal from their own citizens are known as ________
A) pure democracies B) kleptocracies C) Mugabes D) antediluvians