The law of diminishing marginal utility:a) allows us to make interpersonal utility comparisons. b) tells us that an additional dollar is worth less to a millionaire than to a poor person. c) tells us the worth of an additional dollar of income. d) tells us that an additional dollar of income is worth less than the preceding dollar of income.

Eager, a tipped employee, reported to his employer that he had received $320 in tips during march. on the next payday, april 4, he was paid his regular salary of $250. the amount of oasdi taxes to withhold from eager’s pay is a. $19.84 b. $15.50 c. $35.34 d. $43.61 e. none of the above. 2 points

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.