If Steve willingly consumes another slice of pizza, you can be sure that his marginal utility is:
A. falling.
B. rising.
C. positive.
D. negative.
Answer: C
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Consumers in a country buy only two goods, pens and CDs. The prices and quantities purchased by urban households are in the table above. The reference base year is 2011. If the current year is 2012, the cost of the CPI market basket in 2012 is
A) $3,400. B) $3,508. C) $3,580. D) $3,500. E) $3,588.
Direct investment in the stock market by the Social Security trust fund
A) does not require that new money be brought into the system. B) would be more cost-effective than creating private accounts for each person in the Social Security system. C) would cause the government indirectly to own substantial parts of American companies. D) All of the above.
Gross domestic product is the value of all final goods and services produced within a country during a given period of time
a. True b. False Indicate whether the statement is true or false
Factor payments are
a. amounts paid to resource owners for the use of their resource b. amounts paid for goods c. another term for revenues d. the amount households put into savings e. payments made to workers who are employed only part time