What does the term "marginal" mean in economics?
A) the edge of a market
B) an additional or extra
C) illegal
D) secondary
E) trivial
Answer: B
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Identify markets in which there is an exchange
What will be an ideal response?
A system of universal medical insurance would tend to ________ the ________ for medical services
A) increase; elasticity of demand B) decrease; elasticity of demand C) decrease; quantity demanded D) decrease; non-monetary payments
Which of the following is not true currently?
A. The United States has an overall trade surplus. B. The United States has a low export ratio. C. The United States has a merchandise trade deficit. D. The United States has a services trade surplus.
A movement along the demand curve to the left may be caused by a
A. rise in income. B. decrease in supply. C. fall in the price of inputs. D. fall in the number of substitute goods.