One of the reasons economists approve of limiting trade would be
A. the preservation of a large-production company.
B. the preservation of a high-wage company.
C. the protection of the environment.
D. the preservation of a high-employment company.
Answer: C
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When two variables in a graph are related to a third, changing the third causes
A) a movement along the curve. B) a shift of the curve. C) no change in the curve because the third variable isn't on the axes. D) either a shift or a movement in the curve, but more information is needed to determine which occurs. E) None of the above answers is correct.
The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. Which of the following CORRECTLY illustrates the principle of diminishing marginal utility? The fact that
A) the sixth magazine has less marginal utility than the sixth CD. B) Jane's marginal utility per dollar from the second magazine is the same as her marginal utility per dollar from the third CD. C) the marginal utility per dollar from the sixth magazine is less than the total utility from six magazines. D) the marginal utility of the third CD is less than the marginal utility of second CD.