Marginal utility can be:
A) positive, but not negative
B) positive or negative, but not zero.
C) positive, negative, or zero.
D) decreasing, but not negative.
Ans: C) positive, negative, or zero.
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A craze for apples in Riverdale increases the quantity demanded at every price by five bushels. Between any two prices, the new demand curve will be ____ the old demand curve.
A. more elastic than B. less elastic than C. equal in elasticity to D. More information is needed to predict the relationship.
“Plowback” is a preferred source of financing a corporation because
A. the funds are easier to obtain, compared to issuing stocks. B. it is not subject to double taxation. C. selling bonds involves the high cost of money. D. stock markets are subject to random walks.
Choose the statement about an effective minimum wage that is correct.
A. The minimum wage is a fair rule because otherwise? low-skill workers would earn a lower wage. B. The minimum wage imposes a fair rule because it is legislated by the government and passed into law by majority rule. C. The result of the minimum wage is fair because those who find jobs are the least well off. D. The result of the minimum wage is unfair because only those people who have jobs and keep them benefit from the minimum wage.
Under a floating exchange-rate regime with a low degree of capital mobility, if the domestic government uses an expansionary fiscal policy
A. the financial account balance deteriorates. B. the official settlements balance tends to go into surplus. C. foreign capital outflows decrease domestic product. D. the domestic interest rate increases.