If one tracks the prices of critical metals, like lead, zing, and copper, one sees that
A. they have risen more slowly than the general rate of inflation.
B. they have risen about as rapidly as the general rate of inflation.
C. the prices have fallen, indicating that consumers have found other alternatives.
D. the prices have fluctuated too wildly to conclude anything.
Answer: B
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In the above figure, the curve labeled a is the ________ curve and the curve labeled b is the ________ curve
A) marginal cost; marginal benefit B) marginal cost; trade line C) marginal benefit; trade line D) production possibilities frontier; trade line
The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. The price of a slice of pizza is $2 and of a can of Pepsi is $1. Suppose Priscilla has $6 to spend. If Priscilla chooses to eat 3 slices of pizza
A) she is maximizing her total utility. B) she is not equating marginal utility per dollar for pizza and Pepsi. C) she is not at a consumer equilibrium. D) Both answers B and C are correct.
The ranking of the size of tax revenues received by the federal government (from highest to lowest) would be corporate taxes, income taxes, and Social Security payroll taxes.
Answer the following statement true (T) or false (F)
The Single European Act passed in 1987 sought to:
A) bring former communist nations into the EC. B) further integrate the European economies to promote trade and economic growth. C) establish the European nations as sovereign nations with no political ties to the center. D) impose stiff penalties for violating the exchange rate parities set in the ERM.