Economic advisers who fear that the economy is growing too rapidly would recommend that the government decrease spending and/or increase taxes.
Answer the following statement true (T) or false (F)
True
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Economists consider instances of increasing marginal utility to be
A. normal. B. impossible. C. unusual, as in the case of addictions. D. irrational.
Milton Friedman called the response of lower interest rates resulting from an increase in the money supply the ________ effect
A) liquidity B) price level C) expected-inflation D) income
Microsoft has integrated many components into its Windows operating systems, such as a web browser, media player, etc. How might this be an example of nonprice competition?
What will be an ideal response?
The negative slope of an indifference curve means that the consumer must give up quantity of one good as the quantity of another good increases in order for total utility to ____
a. remain constant. b. increase c. decrease d. normalize.