In utility analysis, it is assumed that marginal utility diminishes as consumption of a product decreases
a. True
b. False
Indicate whether the statement is true or false
False
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If bundles of goods A and B lie on the same indifference curve, one can assume the individual:
a. prefers bundle A to bundle B. b. prefers bundle B to bundle A. c. enjoys bundle A and B equally. d. bundle A contains the same goods as bundle B.
If one subtracts the amount of bonds held by agencies of the federal government and the Federal Reserve from the national debt, what remains is known as the
a. external debt. b. privately held government debt. c. trade deficit. d. budget deficit.
Where did Robert Mugabe get the money he needed for bribes and payoffs?
A. He raised income taxes. B. He printed it. C. He raised estate taxes. D. He raised taxes on corporate profits.
Technological progress in agriculture has been beneficial for _________ but harmful to __________ because the output of farm goods has grown so rapidly as a result.
a. small farmers, large farmers b. consumers, farmers c. farmers, consumers d. the United States, other countries e. other countries, the United States