The sale of live cattle to a slaughterhouse constitutes a final transaction that is counted as part of the gross domestic product
a. True
b. False
Indicate whether the statement is true or false
False
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When the government converted the highway from 4 lanes into 6 lanes, they claimed the capacity had increased by 50 percent
When the government switched the highway back from 6 lanes to 4 lanes, they claimed the capacity had been decreased by 33 percent. Had the government used the midpoint method, the percentage increase would have been ________ percent and the percentage decrease would have been ________ percent. A) 50; 50 B) 33; 33 C) 33; 50 D) 40; 40
A firm's net worth is calculated as
A) the difference between a firm's revenues and explicit costs. B) the difference between a firm's liabilities and outstanding equities. C) the difference between a firm's assets and liabilities. D) the difference between a firm's revenues and implicit costs.
If your total satisfaction increases when you consume another unit, your marginal utility must be
A) positive. B) increasing. C) decreasing. D) negative.
Economists believe that individuals act as if they are motivated: a. primarily by the opinions of their peers
b. primarily by human emotions. c. primarily by self-interest. d. only by concern for the larger community.