As buyers consume more units of a good, their marginal willingness to pay ______.
a. decreases
b. increases
c. remains constant
d. becomes erratic
a. decreases
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What is ‘market failure'? Explain one way in which government can help overcome such failure
What will be an ideal response?
Low rates of inflation are generally associated with
a. low rates of government spending. b. small or nonexistent government budget deficits. c. low rates of productivity growth. d. low rates of growth of the quantity of money.
The core inflation rate excludes
A. Only energy prices for the airlines. B. Food and energy prices. C. Import prices. D. Entertainment and packaging prices.
Higher deductibles for employer-provided health insurance will tend to shift the ________ curve for medical services to the ________
A) demand; left B) demand; right C) supply; left D) supply; right