Refer to the information provided in Table 23.3 below to answer the question(s) that follow. Table 23.3
Refer to Table 23.3. At an aggregate income level of $300, aggregate saving would be
A. -$125.
B. $100.
C. $125.
D. $175.
Answer: A
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According to the principle of diminishing marginal utility, as the quantity of a good or service consumed increases, total utility
A) increases. B) decreases. C) is unchanging. D) is zero.
A borrower's willingness to sign a personal guarantee is
A) one form of the moral hazard problem. B) one form of the adverse selection problem. C) a signal of a high-quality borrower. D) a signal of a low-quality borrower.
In economics, investment refers to the process of accumulating:
a. capital goods. b. consumer goods. c. money. d. stocks and bonds.
If a price floor is not binding, then a. the equilibrium price is above the price floor. b. the equilibrium price is below the price floor. c. there will be a surplus in the market
d. Both (a) and (c) are correct.