If total utility increases at a decreasing rate as a consumer consumes more coffee, then marginal utility must
A) decrease. B) remains constant. C) be negative. D) increase also.
A
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During a recession, the percentage workers who are part time for economic reasons
A) increases more rapidly than the percentage of part-time workers. B) decreases more rapidly than the percentage of part-time workers. C) increases proportionately with the percentage of part-time workers. D) decreases proportionately to the percentage of part-time workers. E) does not change even though the percentage of part-time workers increases.
A strategic pre-commitment occurs when a firm:
A. commits to some actions before rivals take theirs, with the aim of increasing its future competitive profit. B. commits to some actions after rivals take theirs, with the aim of increasing its future competitive profit. C. commits to some actions before rivals take theirs purely by accident. D. commits to some actions after rivals take theirs because there are no other options.
According to the Lucas critique, what is the proper way to evaluate a proposal that reduces government borrowing by raising taxes and reducing government spending?
What will be an ideal response?
Society's resources include
a. land and labor b. labor and machinery c. land, labor, and capital d. land, capital, and money e. labor, capital, and money