Which of the Following Is the Best Example of a Marginal

question 20

Multiple Choice

Which of the following is the best example of a marginal change?

• A)The price of water rose in Calgary by 2% last year.
• B)Kim gets a big promotion at work. She also gets a raise from $25,000 per year to $40,000 per year.
• C)Mark graduates from university and takes a job. His income increases from $10,000 per year to $50,000 per year.
• D)A drought hits Saskatchewan and the price of wheat increases from $4.00 per bushel to $8.00 per bushel.

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Definitions:

Paraphrasing

The act of rewording or rephrasing a set of ideas in one's own words while maintaining the original meaning.

Citations Page

A section at the end of an academic paper or book where the sources of information or data used in the document are listed.

Econometrics

The application of statistical and mathematical methods in the field of economics to test hypotheses and forecast future trends.

Economic Theory

A set of principles and frameworks for analyzing how resources are distributed and consumed, and how economies function.