The relationship between MPC and MPS is:
a. 1 + MPC = MPS.
b. 1 ? MPC = MPS.
c. 1 + MPS = MPC.
d. MPC ? MPS = 1.
b
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Using the above table, if the price of Pepsi is $3, how many cans of Pepsi would have to be consumed in order to have a marginal utility to price ratio of 3?
A) one can
B) two cans
C) three cans
D) four cans
The equation TR/Q is used to compute
A) total cost. B) average revenue. C) demand. D) marginal revenue.
Suppose a U.S.-made machine costs $500 and the exchange rate is 100 yen = $1 . A Japanese citizen purchasing this machine would pay:
a. 100 yen. b. 500 yen. c. 5,000 yen. d. 10,000 yen. e. 50,000 yen.
Which of the following can make the unemployment rate fall?
A. A decrease in the number of people who are looking for work. B. An increase in the number of people with jobs. C. A decrease in the number of people who are looking for work and an increase in the number of people with jobs. D. An increase in the number of people neither working nor looking for work.