You want to purchase two umbrellas. The price is $40 per umbrella, 2 for $60, 3 for $75. What will be the marginal cost to you of buying a third umbrella?
A) $75
B) $25
C) $20
D) $15
E) $10
D
Economics
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Fiat money
A) serves well as a medium of exchange, but not as a store of value. B) has no or very little value except as money. C) is rarely used in modern economies. D) functions well only if can be redeemed for gold or other precious metals.
Economics
The government budget involves:
A. money coming in as tax revenues. B. money going out to individuals for programs that do not involve goods or services. C. money going out through government purchases. D. All of these are true.
Economics
The prosperity phase of a three-phase cycle sets in after the _____ phase.
Fill in the blank(s) with the appropriate word(s).
Economics
Which of the following is considered a durable good?
A) medical care B) clothing C) food D) a washing machine
Economics