Marginal utility must be positive

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

False

Economics

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The cost to society of unemployment can be expressed in terms of

a. increased unemployment benefits paid for by taxpayers b. lower real GDP c. increased government involvement in the economy d. decreased tax revenues e. increased government spending

Economics

"I like ice cream, but after eating homemade ice cream last night, I want to have something else for dessert today." This statement most clearly reflects

a. the budget constraint. b. consumer irrationality. c. the second law of demand: price elasticity increases with time. d. the law of diminishing marginal utility.

Economics