The demand curve is also the
A) total cost curve.
B) total benefit curve.
C) marginal cost curve.
D) marginal benefit curve.
E) marginal deadweight cost curve.
D
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The slope of the consumption function shows how: a. consumption changes over time. b. consumption changes as household size changes
c. consumption changes as the price level changes. d. income changes as the level of consumption changes. e. consumption changes as the level of income changes.
A fisherman will catch and sell all the fishes in his pond in response to a substantial increase in the price of the fish even if he wishes to remain in the fishing business
a. True b. False Indicate whether the statement is true or false
Economics is the study of:
a. the allocation of scarce resources and the ways in which human decision makers utilize those resources. b. the methods that human decision makers use to transform a scarce good into a non-economic good. c. how to operate a business successfully. d. a utopian society. e. how to make money in the stock market.
The economy is considered to be at full employment when the rate of cyclical unemployment is zero
Indicate whether the statement is true or false