Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The ________ video game rental has a marginal utility of zero.
A. first
B. second
C. third
D. fourth
Answer: D
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In the steady-state diagram of the Solow model, an increase in saving per worker is shown by
A) shifting the saving-per-worker curve down, resulting in a lower steady-state capital—labor ratio. B) shifting the saving-per-worker curve up, resulting in a higher steady-state-capital—labor ratio. C) shifting the saving-per-worker curve up, resulting in a lower steady-state capital—labor ratio. D) shifting the saving-per-worker curve down, resulting in a higher steady-state capital—labor ratio.
Wealthy people will tend to have vertical labor supply curves
A) only if their income effect just offsets their substitution effect. B) only if their income effect is greater than their substitution effect. C) only if their income effect is less than their substitution effect. D) only if they don't have an income effect.
A welfare loss in a market
a. is the dollar difference between consumer surplus and producer surplus b. is measured as the area above the market price and to the left of the market quantity c. is the dollar value of potential benefits not achieved due to inefficiency in that market d. is typically due to government intervention in that market e. is typically minimized when a government sets a ceiling price
In 2010, in order to stimulate capital investment, President Obama proposed
A. a reduction in real interest rates. B. an increase in the money supply. C. increased write-offs for businesses purchasing equipment. D. an increase in the tax on capital gains.