Marginal revenue is defined as
a. the accumulated revenue associated with production
b. ?TR/?Q
c. the change in profit associated with another unit of output produced
d. ?TC/?Q
b. ?TR/?Q
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Why might private investment in poor countries, rather than aid by foreign governments and international agencies, contribute more effectively to economic growth?
A) Private investment is more consistent with central economic planning. B) Technical assistance is often part of the private investment package. C) Private investment is always selfish. D) Private investors are smarter and more street-wise than public authorities.
In the figure above, the segment of the curve showing where the income effect outweighs the substitution effect is
A) 0a. B) bd. C) 0c. D) cd.
Bonds that pay no periodic (annual) interest are
A) zero-coupon bonds. B) coupon securities. C) perpetuities. D) tax-exempts.
Empirical evidence on the U.S. economy suggests that household spending and income have an inverse relationship
a. True b. False Indicate whether the statement is true or false