In consumer equilibrium, which of the following is true?
a. The marginal utility from the consumption of each good is the same
b. The marginal utility from the consumption of each good is zero.
c. The marginal utility from the consumption of the last dollar's worth of each good is the same.
d. The total utility from the consumption of each good is the same.
c
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Externalities
A) are not reflected in market prices, so they can be a source of economic inefficiency. B) do become reflected in market prices, so they can be a source of economic inefficiency. C) are not reflected in market prices, so they do not adversely affect economic efficiency. D) do become reflected in market prices, so they do not adversely affect economic efficiency. E) may or may not become reflected in market prices, but do not have an impact on economic efficiency in either event.
When a firm's average total cost curve continually declines, the firm is a
a. government-created monopoly. b. natural monopoly. c. revenue monopoly. d. All of the above are correct.
The United States sees its overall price level decline, ceteris paribus. Considering this, which of the following actions would most likely happen next?
a. U.S. firms invest more money in bonds and savings accounts, which lowers interest rates. b. U.S. consumers spend less money, which increases the quantity of real GDP demanded. c. U.S. firms hold more money to buy goods and services, which raises interest rates. d. U.S. households borrow more money, which decreases the demand for loanable funds.
The national debt is now about
A. $700 million. B. $9 trillion. C. $900 billion. D. $12 trillion.