Which of the following is FALSE?
A. Assuming that the law of diminishing marginal utility holds, the demand curve must be upward sloping.
B. A consumer is maximizing total utility when he or she gets the same amount of marginal utility from the last dollar spent on each good purchased.
C. As additional units of a good or service are consumed, marginal utility diminishes.
D. Utility is want-satisfying power.
Answer: A
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Identify and briefly explain two economic incentives that would encourage firms to research and implement “design for recycling” programs.
What will be an ideal response?
Tony lent Dave $1,000 for one year with the understanding that Dave would repay $1,070 . If the actual inflation rate was 7 percent, then the real rate of interest Tony received is _____
a. 14 percent b. 7 percent c. 4 percent d. 0 percent e. ?7 percent
Other things equal, extracting oil from shale becomes economically viable (as or less costly than using conventionally extracted oil) when oil prices reach _____ or more per barrel
A. $80 B. $60 C. $50 D. $40
In which of the following is a risk-tolerant investor most likely to invest in?
a) CDs b) Savings accounts c) A-rated bonds d) Growth stocks