Most of the disagreement among economists involves normative debates
a. True
b. False
A
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There are two basic ways to build up capital: (1) _____ and (2) _____.
Fill in the blank(s) with the appropriate word(s).
If the price of inputs rises and personal income taxes rise:
a. Price index rises, and real GDP falls. b. Price index rises, and the change in real GDP is uncertain. c. The change in price index is uncertain, and real GDP falls. d. Price index falls, and real GDP rises. e. Price index falls, and real GDP falls.
A nation's balance of payments can be affected by
A) the country's inflation rate relative to other nations' inflation rates. B) the country's population increases relative to other nations' populations. C) per capita GDP relative to other nations' per capita GDP. D) none of the above.
If total utility is decreasing, then marginal utility is
A. increasing. B. zero. C. negative. D. positive.