Jason buys only music downloads and food with his weekly income. In response to a decrease in the price of downloads, he buys more downloads and less food. As a result, we would expect:
a. the marginal utility of downloads to increase and the marginal utility of food to decrease.
b. the marginal utility of both downloads and food to remain unchanged
c. the marginal utility of downloads to decrease and the marginal utility of food to increase.
d. the marginal utility of food to become negative.
c
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Economists who support market-based reforms for health care believe that increased competition among providers of health care would ________ costs and ________ economic efficiency
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease
Which of the following categories of business cycle theories includes the under investment theory?
a. physical. b. monetary. c. psychological. d. spending and saving.
To manufacture 1,000 pairs of shoes in a week, a firm must use at least 1,500 workers and 5 machines or 100 machines and 150 workers. Which method can be technically efficient?
A. 1,500 workers and 5 machines B. 150 workers and 100 machines C. Both D. Neither
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.