For private consumption goods, the optimal number of users is determined by the unanimity rule
a. True b. False
b
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Marginal utility theory predicts that when the price of one good rises, the demand for another good is a substitute increases. This change occurs because of
A) an increase in the marginal utility per dollar from the substitute good. B) an increase in the marginal utility of the substitute good. C) a decrease in the marginal utility per dollar from the good whose price has risen. D) a decrease in the marginal utility of the good whose price has risen.
Big-push strategy investments are designed to
a. aid the rich landowners (who run the LDC governments) at the expense of the poor peasants b. invite back successful colonial development into the LDCs c. keep new forms of colonialism out of the LDCs d. generate tax revenues for development e. create the all-at-once development upon which private investment can flourish
If the long-run supply curve slopes upward, we know that this is
A) a decreasing-cost industry. B) a constant-cost industry. C) an increasing-cost industry. D) a situation in which no input prices change as firms enter and exit the industry.
The Fed will raise the interest rate by the greatest amount when the economy is on the ________ part of the AS curve and there is ________.
A. flat; an increase in government spending B. flat; a decrease in government spending C. steep; an increase in government spending D. steep; a decrease in government spending