Economics Practice Questions & Answers

The term 'marginal' in economics means

The term 'marginal' in economics means

A).  Unimportant

B).  Additional

C).  The minimum unit

D).  Just barely passing

Interest is paid because

Interest is paid because

A).  Capital is scarce

B).  Capital is productive

C).  Capital is attractive

D).  Capital is surplus

The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in

The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in

A).  1859

B).  1857

C).  1855

D).  1853

All the following curves are U-shaped except

All the following curves are U-shaped except

A).  AVC

B).  AFC

C).  AC

D).  MC

When marginal is negative, it must be true that

When marginal is negative, it must be true that

A).  The average is negative

B).  The average is decreasing

C).  The total is negative

D).  The total is decreasing

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