Which of the following statements is correct?
A. When marginal utility is decreasing, an increase in the quantity consumed will decrease total utility
B. When marginal utility is positive, an increase in the quantity consumed will decrease total utility
C. When marginal utility is positive, an increase in the quantity consumed will increase total utility
D. When marginal utility is zero, an increase in the quantity consumed will make total utility zero
C. When marginal utility is positive, an increase in the quantity consumed will increase total utility
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For any transaction, the sum of consumer surplus and producer surplus is cooperative surplus
Indicate whether the statement is true or false
Moral hazard is a
a. Pre-contractual problem b. Post contractual problem c. Post firing problem d. None of the above
When real GDP grows more slowly than potential GDP,
a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises.
Autonomous consumption is ______ zero.
A. always B. usually C. sometimes D. never