Which of the following is false?
a. We can be sure that people with more income get less marginal utility from their consumption of a good than those with less income.
b. We can be sure that people with less income get less marginal utility from their consumption of a good than those with more income.
c. We can be sure that those who receive greater marginal utility from consumption of a particular unit of an item receive greater total utility from consumption of that item.
d. All of the above are false.
d
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In the United States, antitrust enforcement focuses on
A) the profitability of the leading firms in an industry. B) the degree of market concentration within a market. C) the average level of prices charged by firms. D) the price-cost margin of an industry.
If the government puts price controls on medical care, this will increase the supply of affordable care in the United States
a. True b. False Indicate whether the statement is true or false
The decision that the European Union should have a common currency was made at:
a. Maastricht b. Rome c. Vienna d. London
In a recessionary gap, the implications of downward wage inflexibility are that there will be
A) further leftward shifts of AD that worsen unemployment. B) no further leftward shifts of AD, allowing the shifts in SRAS to close the recessionary gap. C) no further leftward shifts of SRAS, allowing the shifts in AD to close the recessionary gap. D) no rightward shifts of SRAS, allowing for the possibility of persistent high unemployment.