Marginal analysis refers to the
A. comparison of benefits and costs of choosing a little more or a little less of a good.
B. calculation of opportunity costs of an economic activity.
C. study of trade relations based on absolute cost differences.
D. relationship between the cause and effect of an economic event.
Answer: A
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What do the Lorenz curves for wealth and income in the United States look like? Which is closer to the line of equality?
What will be an ideal response?
An increase in inflation leads to higher ________
A) output B) spending C) real interest rate D) all of the above E) none of the above
Video rental stores in cities are an illustration of:
a. perfect competition. b. monopoly. c. monopolistic competition. d. oligopoly.
A simultaneous increase in inflation and decrease in economic growth in a country can be associated with:
a. a decrease in aggregate demand with no change in aggregate supply. b. an increase in aggregate demand and aggregate supply. c. an increase in aggregate supply with no change in aggregate demand. d. a decrease in aggregate supply and aggregate demand. e. a decrease in aggregate supply with no change in aggregate demand.