Mercantilists wanted a favorable balance of trade, by which they meant
a. exports = imports.
b. exports > imports.
c. exports < imports.
d. To import nothing from the colonies.
b. exports > imports.
Economics
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Macroeconomics deals with the concept of: a. individual households. b. market structures
c. market concentration. d. economic growth.
Economics
Marginal utility is defined as:
A. the extra satisfaction the consumer receives from an extra $1 of income. B. the total level of satisfaction a consumer receives upon the consumption of a certain number of goods. C. the number of hours a consumer would be willing to work to receive a certain product. D. the extra satisfaction a person derives from consuming an additional unit of a good.
Economics