The inflation rate is:
A. the percentage change in the overall price level.
B. the central concept in microeconomics.
C. a measure of the rate of increase in the cost of imported goods.
D. is not something that can be accurately measured with the CPI.
A. the percentage change in the overall price level.
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The law of diminishing marginal utility states that total utility will increase at a decreasing rate as additional units of a commodity are acquired.
Answer the following statement true (T) or false (F)
According to Nobel laureate Douglass North, one reason why the Industrial Revolution occurred in England before many other countries was because the king in England consistently maintained control over the court system and the government
Indicate whether the statement is true or false
Which of the following is a component of the Patient Protection and Affordable Care Act?
a. Charging a fine to individuals who do not have or want health insurance b. Requiring employers to buy health insurance from state-run exchanges c. Requiring employers with 30 or more employees to offer health insurance d. Charging a fine to doctors who do not participate in health insurance exchanges
In a representative democracy, government action results from the
a. choices of voters. b. legislative decisions by politicians. c. political action of organized interest groups. d. complex interaction of all of the above.