Which of the following would not be considered a positive addition to household wealth?
A) the equity in one's home
B) 1,000 shares of Microsoft stock
C) a credit card balance
D) the balance in your checking account
Answer: C
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In general, one would expect that life expectancies reflect international differences in income levels. Do the data support such a claim?
A) Average life span falls as relative poverty falls. B) Average life span increases as relative poverty falls. C) There is no statistically significant relationship between the two. D) The relation is not very strong. E) The relationship looks more like a U-shape.
The term "surplus" refers to a:
A. situation in which the quantity supplied is less than the quantity demanded. B. situation in which the quantity demanded is less than the quantity supplied. C. market that sells secondary goods. D. signal that producers need to increase the price of the good.
Efforts to raise money for local charities illustrate which of the following?
a. Using social pressure to produce a public benefit b. Relying on society to develop positive externalities c. Creating nonexcludable but rivalrous resources d. Distributing private benefits throughout society
When a firm is experiencing diminishing marginal returns:
A. average cost is increasing. B. average cost is decreasing. C. marginal costs are increasing. D. marginal costs are decreasing.