When marginal utility is decreasing but still positive, then total utility is
A. increasing at a decreasing rate.
B. decreasing.
C. negative.
D. increasing at an increasing rate.
Answer: A
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For the most part, central bank credibility, or lack thereof, is reflected in the behavior of ________
A) short-run aggregate supply B) short-run aggregate demand C) long-run aggregate supply D) aggregate price shocks
New growth theory emphasizes all of the following EXCEPT
A) technology. B) import restrictions. C) research and development. D) innovation.
Table 7-2 This table refers to five possible buyers' willingness to pay for a case of Vanilla Coke.
Buyer Willingness To Pay David $8.50 Laura $7.00 Megan $5.50 Mallory $4.00 Audrey $3.50 Refer to Table 7-2. If the market price is $3.80, a. David’s consumer surplus is $4.70 and total consumer surplus for the five individuals is $9.50. b. David, Laura, and Megan will be the only buyers of Vanilla Coke. c. Megan’s consumer surplus is $1.70 and total consumer surplus for the five individuals is $9.80. d. the demand curve for Vanilla Coke, taking the five individuals into account, is horizontal.
Jan has an income of $30,000 and pays $4,500 in taxes. When Jan's income rises to $40,000, her tax bill rises to $6,500. What is Jan's marginal tax rate?
A. 5 percent. B. 15 percent. C. 16.25 percent. D. 20 percent.