Positive marginal utility implies increasing total utility
a. True
b. False
A
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If AE < Y, which of the following will NOT occur?
A) inventories will decline B) actual investment will be more than planned investment C) employment will decline D) GDP will decline
A weaker peso, relative to the US dollar, causes the demand for US exports to ______ and the demand of Mexican imports to______
a. Increase; Decrease b. Decrease; Increase c. Increase; Increase d. Decrease; Decrease
Which of the following is not a valid relationship?
a. For a normal good: demand for a good increases when income falls. b. For a normal good: demand for a good decreases when income falls. c. For an inferior good: demand for a good decreases when income rises. d. For an inferior good: demand for a good increases when income falls.
A person's decision to supply a certain amount of labor in a week is simultaneously a decision to consume a certain amount of leisure per week
a. True b. False Indicate whether the statement is true or false