The initial Phillips curve relationship implied that the opportunity cost of _____ was higher _____
a. reducing unemployment; inflation
b. increasing unemployment; inflation
c. decreasing employment; interest rate
d. increasing employment; deflation
e. increasing employment; interest rate
a
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When total utility is rising but at a decreasing rate what must be happening to marginal utility? When will total utility stop rising?
What will be an ideal response?
Its critics claim that when advertising ____ the elasticity of demand, firms are able to ____
a. decreases; lower their advertising budget b. increases; become more competitive c. increases; increase their advertising budget d. decreases; charge a larger mark-up over marginal cost
If you got a birthday gift of a $100 U.S. savings bond, you would have received
a. M1 money b. M2 money c. specie d. near money e. not money
Say Anna chooses between partying and studying. Supposed her indifference curves satisfied all the assumptions about consumer theory, but she also liked studying a lot more than partying. If the price of studying increased, then Anna would consume
A. no partying at all, in order to consumer more studying. B. less studying and more partying. C. the same as before. D. more studying and less partying.