Which word best completes the following sentence? A rational decisionmaker always chooses the option for which marginal benefit is ________ marginal cost
a. equal to
b. less than
c. more than
d. unrelated to
c
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Which of the following statements best describes structural economic change?
a. Fiscal policy can increase overall demand, but the process of structural economic change happens more rapidly. b. Fiscal policy can increase overall demand, but the process of structural economic change inevitably takes time. c. Fiscal policy can determine the rate at which structural economic change occurs. d. Fiscal policy can increase both overall demand and create structural economic change simultaneously.
Labor income includes:
A. wages, salaries, and earnings of the self-employed. B. interest, dividends, and rent. C. profits, royalties, and rent. D. payments to owners of factories, machines, and buildings.
Advances in information and communication technology are the principal factors cited for the:
A. slowdown in productivity growth between 1973 and 1995. B. speedup in productivity growth since 1995. C. slowdown in productivity growth since 1995. D. speedup in productivity growth between 1973 and 1995.
Two items which have a positive cross price elasticity of demand are referred to as
A. complements. B. substitutes. C. inferior goods. D. luxury goods.