The value of marginal product equals ________ multiplied by ________
A) the good's market price; marginal cost
B) the good's market price; marginal product
C) marginal cost; marginal product
D) marginal revenue; total product
B
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________ like a check and ________ considered money
A) Debit cards work; are not B) Debit cards work; are C) E-checks work; are D) E-cash works; is not E) E-cash works; is
Trade restrictions are often motivated by a desire to save domestic jobs threatened by competition from imports. Which of the following counter-arguments is made by economists who oppose trade restrictions?
A) Trade restrictions benefit consumers in the short run but not in the long run. B) Statistics show that trade restrictions actually do not save jobs. C) Consumers pay a high cost for jobs saved through trade restrictions. D) Trade restrictions have a limited impact because most Americans prefer domestic goods over imports.
Why do individuals hold money when it does not provide the services that, say, a house does?
A) Money is the most liquid asset. B) Money is the only form in which wealth may be held. C) Money increases in value faster than other assets. D) Money is useful in avoiding taxes on certain transactions.
A "liberal" would most likely argue in favor of
a. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. b. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary. c. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. d. spending increases when fiscal expansion is necessary, and tax increases when fiscal restraint is necessary.