The accompanying table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15. Number of Car Washes Per MonthTotal Monthly Benefit from Car Washes0$01$202$363$484$565$60 What is the marginal benefit of the 3rd car wash each month?
A. $4
B. $12
C. $48
D. $16
Answer: B
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Your teacher decides to play a game where every student must contribute a dollar. All money collected is distributed at the end of the game among the students. This is an example of a
A) positive-sum game. B) zero-sum game. C) strategy. D) negative-sum game.
An economic boom in the United States will tend to cause booms in other countries because as U.S. GDP rises, U.S.
A. tariffs will automatically fall. B. exports will rise. C. imports will rise. D. exports will fall.
If income tax rates are increased in an attempt to balance the federal budget, we should expect to see
a. an increase in consumption and a decrease in GDP. b. an increase in consumption and an increase in GDP. c. a decrease in consumption and a decrease in GDP. d. a decrease in consumption and an increase in GDP.
The cross-price elasticity of demand between spaghetti and spaghetti sauce is most likely:
A. positive. B. negative. C. zero. D. More information is needed to determine.