The marginal utility per dollar spent on a good represents the
a. satisfaction received for each dollar spent on the last unit consumed
b. total satisfaction received from consuming a certain number of units of that good
c. dollar value of average utility
d. change in price due to a one-unit increase in total utility
e. price paid for the last unit of utility
A
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 0d and that it is 0u in country B.) Domestic output in country A will, after the immigration:
A. Decrease by area abc
B. Decrease by area adec
C. Increase by area abc
D. Increase by area adec
To reach the maximum money multiplier, it is assumed that
A) there is insufficient loan demand. B) all loans get redeposited in a checkable account. C) loans are diverted into circulating currency. D) commercial banks keep the amount of reserves. equal to total bank deposits.
A market with a large number of sellers
A) can only be a perfectly competitive market. B) might be an oligopoly or a perfectly competitive market. C) might be a monopolistically competitive or a perfectly competitive market. D) might be a perfectly competitive, monopolistically competitive, oligopoly, or monopoly market. E) can only be a monopolistically competitive market.
It is ______ that a tariff, unlike a quota, provides revenues to the government; it is ________ that a quota directly limits the quantity of a nation's imports from a specific country.
A. true; true B. false; false C. false; true D. true; false