Almost half of the world lives on less than $____ a day.
Fill in the blank(s) with the appropriate word(s).
Answer: 2
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Suppose that your public library charges a fixed monthly membership fee of $12. Members are allowed to check out as many books as they want under this plan. The average member checks out 4 books per month
Suppose that your public library changes its policy. Now each book costs $3 to check out but there is no longer a monthly membership fee. What effect do you think the new policy will have on the total number of books checked out from your library each month? The new policy is likely to ______the number of booked checked out because ________. A) reduce; the marginal benefit of checking out books is now lower under the new policy B) increase; the average benefit of checking out more than 4 books is now higher under the new policy C) reduce; the marginal cost of checking out books is now higher under the new policy D) leave unchanged; members have already shown that they are willing to pay $12 to check out 4 books per month E) leave unchanged; the average cost of the library service is the same under both plans
If in Switzerland in January, 2009 the CPI was 187.4 and in January, 2010 it was 191.1, then the inflation rate in 2010 was
A) 1.9 percent. B) 3.7 percent. C) -1.9 percent. D) unknown without the base period index number. E) unknown without the real prices.
When there are diminishing marginal returns to labor, the marginal product of the last worker hired must be negative
Indicate whether the statement is true or false
If a change in tastes is in favor of a commodity, that will mean a:
a. Movement down the demand curve b. Movement up the demand curve c. Shift in the whole demand curve to the left d. Shift in the whole demand curve to the right