For most goods and most people, marginal utility probably
A. continues to increase as larger quantities are purchased.
B. plummets after the first few units but soon begins to rise.
C. declines as consumption increases.
D. is negative after the first unit of a good is purchased.
E. is positive and rising for most goods.
Answer: C
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The concept of net domestic investment refers to ________.
A. the difference between the market value and book value of outstanding capital stock B. the amount of machinery and equipment used up in producing the GDP in a specific year C. gross domestic investment less net exports D. total investment less the amount of investment goods used up in producing the year's output
Price controls usually enhance efficiency in the allocation of resources.
Answer the following statement true (T) or false (F)
If 25 workers can pick 100 flats of strawberries per hour, then average product is
A) 100 flats per hour. B) 125 flats per hour. C) 75 flats per hour. D) 4 flats per hour. E) More information is needed about how many flats 24 workers can pick.
U.S. currency ________
A) is less efficient than barter B) includes tobacco C) is the sum of M1 and M2 D) is composed of the bills and coins held by individual and businesses