We will keep buying digital music downloads from the Internet until the marginal utility of the music downloads
A. rises to the price of the download.
B. falls to the price of the download.
C. is greater than the price of the download.
D. is less than the price of the download.
B. falls to the price of the download.
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Macroeconomics is best defined by which of the following statements?
A) Macroeconomics is the study of how firms attempt to maximize profits. B) Macroeconomics is the study of the behavior of the economy as a whole. C) Macroeconomics is the study of individual households. D) Macroeconomics is the study of how the prices of individual goods are determined.
Which one of the following is not a major source of funds for the U.S. federal government?
A. Borrowing B. General sales taxes C. Payroll taxes D. Proprietary income
An actual Lorenz curve shows
A. the relationship between income and tax revenue. B. the maximum and minimum wage gaps. C. the relationship between income and earnings potential. D. the share of income received by age group. E. the cumulative share of income earned by quintiles of households.
In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ________ gap.
A. recessionary B. expansionary C. potential D. no