If a consumer is maximizing his/her utility for a given income, the:
a. marginal utility for every good purchased would be the same.
b. marginal utility per dollar spent for all goods would be the same.
c. marginal utility per dollar for all goods would be at a maximum.
d. total expenditure on each good would be the same.
e. number of units of each good consumed would be the same.
b
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In exchange for a share of the revenues earned on campus, State U has granted CheapFizz the exclusive right to sell soft drinks in the student union and in vending machines on campus. Prior to the deal, three soft drink companies sold beverages on campus; now no other soft drink company is allowed to sell its products on campus. The beneficiaries of this deal is/are ________.
A. CheapFizz B. State U C. State U and CheapFizz D. the students at State U
Growth in real GDP per hour worked in the United States was slowest during what period of time?
A) 1900-1949 B) 1950-1973 C) 1974-1995 D) 2006-2014
Which one of the following is an area of agreement among modern macroeconomists with regard to the use of fiscal policy?
a. Congressional action is necessary if automatic stabilizers are going to be an effective stabilization tool. b. It is difficult to time changes in discretionary fiscal policy in a manner that will promote stability. c. Fiscal policy is more potent than the early Keynesian view implied. d. Budget deficits are a highly effective tool with which to combat a severe recession.
In the circular-flow diagram,
a. firms own the factors of production. b. the factors of production are labor, land, and capital. c. the factors of production are also called "output.". d. All of the above are correct.