When Skippy the sailor forgets how to tie a slip knot his:
A. human capital decreases.
B. human capital is unaffected.
C. human capital increases.
D. None of these is true.
Answer: A
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Inducements to act in particular ways are called
A) collusive tactics. B) incentives. C) trade-offs. D) opportunity costs.
The law of diminishing marginal utility states that
A) the extra satisfaction from consuming a good decreases as more of a good is consumed, other things constant. B) when the extra satisfaction from consuming a good becomes negative, total utility starts falling, other things constant. C) eventually total utility falls as more of a good is consumed, other things constant. D) the extra satisfaction from consuming a good increases slowly as more of a good is consumed, other things constant.
Which of the following statements about ACH transactions is false?
A) They reduce the likelihood of missed payments. B) They reduce transactions costs associated with check processing. C) They reduce the costs that lenders incur in notifying customers of missed payments. D) They typically involve digital cash.
Were it not for the law of diminishing marginal returns, we could grow the world's food supply from a flowerpot
Indicate whether the statement is true or false