When the marginal utility of the first good drops lower than that of a second good, it is rational for a consumer to ______.
a. buy mostly the first good and a little of the second good
b. buy mostly the second good and a little of the first good
c. buy only the second good until the marginal utility equalizes
d. buy only the first good until the marginal utility equalizes
c. buy only the second good until the marginal utility equalizes
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If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed, and 150 million employed, the employment-to-population rate is
A) 53.3 percent. B) 65.2 percent. C) 46.7 percent. D) 87.5 percent.
The federal budget deficit and the trade balance are often referred to as the
A) twin deficits. B) dueling depreciators. C) balance of payments. D) national debt.