For most goods and most people, marginal utility probably:
a. continues to increase as larger quantities are purchased.
b. declines as consumption increases
c. plummets after the first few units but soon begins to rise.
d. is negative after the first unit of a good is purchased.
b
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In measuring the unemployment rate, part-time workers are ________, and discouraged workers are ________
A) included as employed; included as unemployed B) excluded; included as unemployed C) included as employed; excluded D) excluded; excluded E) included as unemployed if they are involuntary part-time workers; excluded
Trade can be beneficial to an economy because:
A) it results in a more efficient use of the combined resources of some of the trading countries, even though it reduces efficiency in others. B) more goods and services can be obtained at lower opportunity cost. C) it prevents specialization in those activities in which countries have a comparative advantage. D) It prevents unemployment.