We can explain the paradox of value as follows: The consumer surplus from water, which is cheap, is ________ than the consumer surplus from gold, which is expensive; the total utility from gold is ________ than the total utility from water; and the
marginal utility per dollar spent on water ________ the marginal utility per dollar spent on gold. A) greater; less; equals
B) smaller; less; equals
C) greater; greater; greater than
D) less; greater; greater than
A
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Which of the following are the most frequently utilized tools of fiscal policy in the United States?
a. Indirect business taxes b. Corporate income taxes c. Inheritance taxes d. Personal income taxes
An increase in injections into the economy may lead to:
a) An outward shift of aggregate demand and demand-pull inflation b) An outward shift of aggregate demand and cost-push inflation c) An outward shift of aggregate supply and demand-pull inflation d) An outward shift of aggregate supply and cost-push inflation
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
The ________ a corporation keeps to finance future expansion are known as retained earnings
A) profits B) stock C) dividends D) bonds