A decrease in government spending will result in a decrease in the price level and a decrease in real GDP in the long run

Indicate whether the statement is true or false

FALSE

Economics

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According to your textbook, a "free" good is

A) a good paid for by someone else. B) a stolen good. C) a good given away by charities. D) a good obtained without any sacrifice whatsoever.

Economics

The following table describes utility for consuming cans of soda. Fill in the blank spaces and answer the following question: At what point does the law of diminishing marginal utility set in?Cans of SodaTotal utilityMarginal utility114 2 12336 444 5 6 

A. Marginal utility never diminishes. B. Between three and four cans C. Marginal utility diminishes everywhere. D. Between four and five cans

Economics