In economics, the term marginal refers to:
A. the change or difference from a current situation.
B. man-made resources as opposed to natural resources.
C. the satisfaction a consumer receives from a good.
D. holding everything else constant in the analysis.
Answer: A
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A temporary price differential in resource markets is
a. eliminated by resource movements b. caused by a failure of firms to maximize profits c. eliminated by resources moving from highly-valued uses to lower-valued uses d. caused by Congress increasing the federal minimum wage e. a result of firms using the MRP = MRC rule in hiring resources
If the Fed were to increase the required reserve rate from ten percent to twenty percent, the simple deposit expansion multiplier would:
A. increase by 10 percent. B. decrease by a factor of ten. C. double. D. be half as large as it was before the increase.
Which of the following is most important if a country is going to achieve and sustain rapid economic growth?
What will be an ideal response?
Henry George advocated each of the following except that
A. all land should be free. B. all rents should be taxed away. C. the government should raise all its tax revenue from a single tax on land. D. since land did not really belong to the landlords, rent was an unearned surplus.