If total utility increases from 10 to 15 for the second unit of a good consumed, the marginal utility of the second unit is 5

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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The official poverty level is based on pretax income including cash. Which of the following statements is correct regarding this official specification of poverty?

A) This is a good definition of poverty since it is made up of the income from productive resources. B) This is not a good definition of poverty because our tax structure consists of different tax brackets based on income. C) This is not a good definition of poverty because it does not include in-kind subsidies. D) This is a good definition of poverty because it is easy to measure.

Economics

In terms of manpower needed to fight the Civil War, the South was disadvantaged by

a. a smaller total population of military-aged males than the North. b. limited support from free, white males in border states. c. a population that included over 1 million military-aged slaves who could not be used for direct combat. d. the fact that some of its manpower had to be used to repress the slave labor force. e. All of the above.

Economics