When total product is decreasing, marginal product is
A) positive and increasing.
B) positive and decreasing.
C) constant.
D) negative.
Answer: D
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Producer surplus is the:
A) sum of a seller's reservation value and the price he finally receives. B) difference between a seller's reservation value and the price he finally receives. C) product of a seller's reservation value and the price he finally receives. D) ratio of a seller's reservation value to the price he finally receives.
In the above table, suppose imports = $750 billion and government expenditures = $1,000 billion. Hence investment equals
A) -$500 billion. B) $1,000 billion. C) $500 billion. D) $0.
The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. If Jane's total budget for magazines and CDs is $70.00 per week, what is her total utility at her utility maximizing consumer equilibrium?
A) 2480 units B) 1870 units C) 210 units D) 30 units
How does the policy trilemma help to explain the failure of Argentina's currency board?
What will be an ideal response?