Marginal utility is
A. the total utility received from consuming a certain quantity of a good divided by the quantity.
B. the utility received by the last consumer of a good.
C. the utility received from consuming one unit of a good.
D. the change in total utility due to a one-unit change in the quantity of a good consumed.
Answer: D
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Psychological factors that may influence the saving rate are ________ and ________.
A. capital gains; the real interest rate B. the real interest rate; the demonstration effect C. the desire to leave a bequest; capital gains D. self-control problems; the demonstration effect
Dumping involves a country selling its exports
A. to nations without a comparative advantage in producing the products. B. to nations that regularly impose tariffs. C. to nations that have no need for the products. D. at a price lower than its cost of production.
If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate?
A) 12.5% B) 37.5% C) 40% D) 62.5%