Which of the following is NOT correct?
a. In 2015, the inflation rate was 7.8 percent in the U.S
b. In 2015, the inflation rate was 84.1 percent in Venezuela
c. In 2015, the inflation rate was 4.9 percent in India
d. In 2015, the inflation rate was 1.5 percent in China.
a
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Marv Pilson has $50 worth of groceries in a shopping cart at his local Shop 'n Save. Assume that the marginal utility per dollar of the liter bottles of soft drink in Marv's cart equals 50
The marginal utility per dollar of the boxes of cereal in Marv's cart equals 20. Marv has only $50 to spend, but has not yet paid for his groceries. How can Marv increase his total utility without spending more than $50? A) Marv should buy fewer boxes of cereal and fewer bottles of soft drink. He can then spend more on other items. B) Marv should substitute his favorite soft drink or the cereal in his cart for generic brands that have lower prices. C) Marv should buy more boxes of cereal and fewer bottles of soft drink. D) Marv should buy fewer boxes of cereal and more bottles of soft drink.
Which of the following is false?
a. A true or pure monopoly exists where there is only one seller of a product for which no close substitute is available. b. The situation in which one large firm can provide the output of the market at a lower cost than two or more smaller firms is called a natural monopoly. c. In monopoly, the market demand curve may be regarded as the demand curve for the firm because it is the market for that particular product. d. A monopoly firm is a price maker, and it will pick a price that is the highest point on its demand curve.
If an economy operates on its production possibilities frontier, the natural unemployment rate must be:
a. zero. b. positive. c. negative. d. at 1 percent. e. at 5 percent.
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, ________ has an absolute advantage in selling cars and ________ has an absolute advantage in selling trucks.
A. Joe; Joe B. Larry; Joe C. Larry; Ralph D. Ralph; Larry