If total utility is increasing, then marginal utility:
A. Must be declining
B. Must be increasing
C. Must be increasing at an increasing rate
D. May either be increasing or decreasing, but it must be greater than zero
D. May either be increasing or decreasing, but it must be greater than zero
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Capital payments usually represent ________ of income payments
A) two-third B) three-fourths C) one-fourth D) one-third
Which of the following would be most likely to cause the production possibilities curve for computers and education to shift outward?
a. A choice of more computers and less education. b. A choice of more education and less computers. c. A reduction in the labor force. d. An increase in the quantity of resources.
In a market, the price of any good adjusts until quantity demanded equals quantity supplied
a. True b. False Indicate whether the statement is true or false
From 2013 to 2014, the CPI for medical care increased from 150 to 159 . What was the inflation rate for medical care?
a. 5.7 percent b. 6.0 percent c. 9.0 percent d. 59.0 percent