Referring to Table 4.2, Box J should be filled with
A. $0.
B. $9.00.
C. $5.67.
D. $17.
Answer: C
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If total planned spending (E(p)) exceeds GDP, we expect that
A) inventories will be falling. B) inventories will be rising. C) GDP will be falling. D) government expenditures must be rising.
According to the principle of diminishing marginal utility, increases in income will create ______ happiness at ______ income levels.
a. zero; lower b. less; upper c. more; upper d. less; lower
Tasha decides that when homes in her neighborhood are selling for $150,000 she will not sell her home. When average prices rise to $175,000, she decides that she will put her home on the market. This is an example of:
A. market demand. B. a negatively-sloped supply curve. C. an excess supply of homes. D. a positively-sloped supply curve.
A good that has social costs that are less than private costs has a quantity that is
A. too high. B. equal to zero. C. just right. D. too low.