(Last Word) Most people do not steal because:
A. stolen goods are subject to the law of diminishing marginal utility.
B. the marginal utilities of stolen goods are negative.
C. their marginal costs, including guilt costs, are too high.
D. stolen goods can only be sold at deep discounts.
Answer: C
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Which of the following statements best explains how the use of money in an economy increases economic efficiency?
A) Money increases economic efficiency because it is costless to produce. B) Money increases economic efficiency because it discourages specialization. C) Money increases economic efficiency because it decreases transactions costs. D) Money cannot have an effect on economic efficiency.
In the Keynesian model with a fixed money wage but a flexible price level, an increase in taxes will lower
a. output and the price level, but leave the interest rate unchanged. b. output, the price level and the interest rate. c. output and the interest rate, but leave the price level unchanged. d. output and the price level, but increase the interest rate. e. the price level and the interest rate, but leave output unchanged.
The development of a low-cost synthetic fuel is expected to cause a decrease in the price of oil
a. True b. False Indicate whether the statement is true or false
Which of the following would be associated with an inflationary gap?
a. interest rates too low b. business expectations pessimistic c. inventory levels too low d. stock market crash e. All of the above.