Figure 3-23
Refer to . It is apparent from the figure that
a.
the good is inferior.
b.
the demand for the good decreases as income increases.
c.
the demand for the good conforms to the law of demand.
d.
All of the above are correct.
c
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If the MB of polluting increased, then what would happen to the optimal level of pollution?
A. Unsure B. Stay the same C. Increase D. Decrease
Refer to the above table. Amy's utility schedule shows
a. increasing marginal utility throughout the entire schedule.
b. initially increasing marginal utility and then decreasing marginal utility.
c. initially decreasing marginal utility and then increasing marginal utility.
d. diminishing marginal utility throughout the entire schedule.
An increasing federal budget deficit will ________ the federal government debt as this will ________ the total value of U.S. Treasury bonds outstanding
A) increase; increase B) increase; decrease C) not impact; not change D) not impact; be offset by
Which of the following best describes the federal budget during the 1990s?
A. The relative size of the deficit fell. B. There was a steady downward trend in the relative size of the deficit. C. The absolute size of the deficit fell. D. The absolute size of the debt grew to over $5 trillion.