A rational consumer will cease purchasing a product at that quantity where marginal utility begins to diminish.

Instead of studying for his calculus exam, Dicky Cribsheets decides to cheat. In the economic way of thinking, Dicky's decision is

A) inefficient and wrong. B) inefficient and desirable. C) efficient and desirable D) not necessarily any of the above.

Suppose that business firms spend $500 million on new capital equipment this year. Of this $500 million, $300 million was spent on domestically produced capital and $200 million was spent on foreign-produced capital

All else equal, these transactions contribute ________ to GDP. A) $0 B) $200 million C) $300 million D) $500 million E) $800 million