Total utility always decreases when additional amounts of a commodity are consumed
a. True
b. False
Indicate whether the statement is true or false
False
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The purchase of fire extinguishers by apartment dwellers provides benefits to their neighbors. Explain why this situation leads to an inefficient outcome
What will be an ideal response?
If coal prices are rising faster than the rate of interest, then
a. investors should buy coal instead of bonds. b. investors should buy bonds instead of coal. c. coal prices should be expected to fall. d. bond prices should be expected to rise.
Economists usually assume that ________ is a fixed input in the ________ run.
A. labor; long B. capital; long C. labor; short D. capital; short