Which of the following refers to the increase in the usefulness of a product as the number of consumers who use it increases?

Nonactivists propose doing nothing in the face of economic hardship because ________

A) activist policies can kick in at the wrong time and be counterproductive B) "markets self-correct pretty rapidly anyway" C) in the face of high unemployment, activist policies would likely lead to surges in inflation D) all of the above E) none of the above

Suppose we want to know how much money your grandparents would have to earn now to have purchasing power equivalent to their income in 1969. We could:

A. translate their nominal income in 1969 into constant, real dollars of today. B. translate their nominal income today into 1969 dollars. C. take a ratio of their income today with their income from 1969. D. None of these statements is true.