Marginal utility equals the change in total utility divided by
A. the price of the product.
B. the change in the number of units consumed.
C. the number of units consumed.
D. the consumer's subjective level of preference.
Answer: B
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Refer to the scenario above. Earthland's financial account would report a balance of ________ for the year
A) $4 billion B) -$10 billion C) -$6 billion D) $14 billion
A preliminary conclusion about welfare reform is that
a. work requirements do seem to yield substantial declines in welfare caseloads b. work requirements cause welfare caseloads to increase c. such reform can only be instituted when the economy is strong d. welfare can be reformed even when the economy is weak e. welfare rolls decline faster when the economy is weak because more people need income during those times