Which of the following statements is true?
A) A worker who shirks work is not an economic agent.
B) All economic agents are necessarily individuals.
C) A government is an example of an economic agent.
D) A street gang is not an economic agent.
C
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Suppose that the chain-weighted index for GDP in Gambia was 275 in 2015 and 350 in 2016. The inflation rate between those two years was approximately
A) 20.2 percent. B) 27.3 percent. C) 37.5 percent. D) 75 percent.
Nominal GDP can change
A) only if prices change. B) only if the quantities of goods and services change. C) only if prices increase. D) if either prices or the quantities of goods and services change. E) only if prices and the quantities of the goods and services change.
Which of the following is an example of a positive externality? a. A firm emits pollution into the air, harming members of society
b. An auto body shop makes a lot of noise, reducing the property values of nearby homes. c. A coastal dairy farmer's undeveloped land offers unimpeded views of the ocean for a nearby neighborhood. d. You go to a store and pay $0.65 for a candy bar that you then eat.
What is the relationship between marginal utility and an individual demand curve?