A unanimity rule suffers from the holdout problem
a. True b. False
a
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When marginal product is less than average product,
a. average product falls. b. average product is zero. c. average product increases. d. average product is unaffected.
Refer to Table 2.7. Use the information in the table to calculate the values for national income, personal income, and disposable personal income
What will be an ideal response?
If marginal cost exceeds marginal revenue,
a. the firm can increase profits by increasing output b. the firm will lower profits by increasing output c. the firm is maximizing profits d. total cost exceeds total revenue e. average cost equals average revenue
Which of the following is not considered a legitimate concern of a large public debt?
A. Bankruptcy of the federal government. B. Disincentives created by higher taxes. C. Crowding-out of private investment. D. Increased income inequality.