The MB curves in the diagram slope downward because of the law of:
A. conservation of matter and energy.
B. diminishing returns.
C. diminishing marginal utility.
D. increasing cost.
C. diminishing marginal utility.
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The above figure gives your budget line between CDs and magazines. What would allow you to buy more CDs?
A) a decrease in the relative price of CDs B) an increase in income C) a decrease in the price of magazines with no change in the price of CDs D) All of the above changes would allow you to buy more CDs.
To obtain GDP from a national income base,
a. add indirect business taxes and Social Security taxes b. add capital depreciation and Social Security taxes c. add indirect business taxes and personal taxes d. subtract indirect business taxes and capital depreciation e. add indirect business taxes and capital depreciation