An individual demand curve for a good is ____ her marginal utility curve for the good.
A. based on
B. the mirror image around the vertical axis of
C. twice as steep as
D. half as steep as
Answer: A
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Suppose you earn annually compounding interest of 10% (per year) on an initial investment of $1,000. Rounded to the nearest 100, what will your balance in 10 years be?
A. $11,000 B. $5,200 C. $2,600 D. $2,000 E. $1,600 F. None of the above
In the IO perspective it is important to enter an industry with
a. High barriers to entry b. Differentiated products c. Small number of competing firms of different sizes d. All of the above
Price ceilings and minimum wages may increase poverty in the long run because they tend to
a. decrease the incentive to work among the poor b. increase the level of saving among the rich c. increase productivity of labor among the rich and poor d. promote investment among the rich e. reduce the distortions in the price system
If the balance of payments accounts of a country shows a current account deficit, it means that
A. the country's foreign assets are growing more quickly than its foreign liabilities. B. the country's exports are higher than its imports. C. the country's foreign assets are growing more slowly than its foreign liabilities. D. the country is acting as a net lender to the rest of the world.