One reason demand curves slope downwards is
a. Marginal value increases with each purchase
b. Marginal value declines with each purchase
c. Total value declines with each purchase
d. All of the above
b
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Most economists believe that consumers would be better off if markets were perfectly competitive rather than monopolistically competitive
Indicate whether the statement is true or false
Economic theory suggests that ________ interest rates are ________ important than ________ interest rates in explaining investment behavior
A) nominal; more; real B) real; less; nominal C) real; more; nominal D) market; more; real
A tax is said to be progressive if
a. the absolute size of the tax (in dollars) increases as income increases b. the wealthy pay a smaller percentage of their income than the poor c. the average tax rate falls as income rises d. the proportion of income paid as taxes increases as income increases e. the proceeds are used to pay for liberal political programs
What is not included in Porter's five forces representation?
A) the threat of new entrants. B) the threat of substitute products. C) the indifference of customers. D) the threat of new entrants.