A rational consumer will cease purchasing a product at that quantity where marginal utility begins to diminish.
a. true
b. false
Answer: b. false
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Since 1960, the labor force participation rate in the United States
A) at first rose sharply and then gradually decreased. B) has generally increased. C) has remained remarkably stable. D) has generally decrease. E) at first gradually decreased and in recent years has risen sharply.
When an individual who has not been working but has been looking for work decides to terminate the search process, the official unemployment rate
A) will fall. B) will rise. C) will remain unchanged. D) may fall or rise depending on whether or not the individual resumes his education.
Which of the following helped transform the budget deficits of the early 1990s into surpluses later in the decade?
a. Rapid growth in the number of persons moving into the retirement phase of life during the 1990s b. A reduction in defense expenditures following the end of the Cold War c. A 1997 increase in the tax rate imposed on income derived from capital gains d. A reduction in Social Security and health-care benefits during the 1990s
If over a short time there is an increase in the number of people retired and a decrease in the number of people working, then productivity
a. and real GDP per person rise. b. rises but real GDP per person falls. c. falls and real GDP per person rises. d. and real GDP per person fall.