As the U.S. price level decreases, expenditures by which of the following will remain unaffected?
A. Consumers
B. Businesses
C. The rest of the world
D. Government
D. Government
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The law of diminishing marginal utility states that marginal utility must diminish after the first unit of consumption of every good or service
a. True b. False Indicate whether the statement is true or false
Which of the following is not true about government taxation?
a. It is an indirect way to shift resources. b. It is free of opportunity costs. c. Taxes are levied on both citizens and businesses. d. Taxes are unequally levied among citizens. e. Taxes are a tool for debt reduction.
If widgets and gidgets are complements and both are normal goods, then a decrease in the demand for widgets will result from:
A. a decrease in the price of gidgets. B. a decrease in income. C. an increase in the price of widgets. D. a decrease in the price of gidgets and a decrease in income.
If the price of cotton used in making blue jeans increases, which of the following will occur?
A) There will be a movement along an unchanged supply curve for jeans. B) The supply curve for jeans will shift rightward. C) The supply curve for jeans will shift leftward. D) There will be a rightward shift in the supply curve for jeans, followed by a movement along the supply curve.