For a given individual, as their income decreases, their utility from that income
A. decreases at an increasing rate.
B. increases at an increasing rate.
C. decreases at a decreasing rate.
D. increases at a decreasing rate.
Answer: A
You might also like to view...
When the federal government deregulated the savings and loan industry,
a. nearly one third of all savings and loans failed by 1987 b. interest rates on loans made by savings and loans decreased c. profits of the savings and loans increased d. the FSLIC stopped insuring deposits e. the savings and loans restricted their loans to fairly riskless loans like home mortgages
Which of the following statements about cost curves is always true?
a. ATC decreases as output increases. b. AFC increases as output increases. c. AFC lies above AVC. d. ATC lies above AVC. e. MC lies below ATC.
The value of goods produced in a previous year but sold in the current year is added to the GDP for the current year.
Answer the following statement true (T) or false (F)
Refer to the information above. The price of U.S. goods measured in pounds is
A) .8. B) 1.0. C) 1.6. D) 2. E) none of the above