The total utilities associated with the first 5 units of consumption of good X are 15, 30, 40, 47, and 50, respectively. What is the marginal utility associated with the third unit?
a. 15.
b. 70.
c. 85.
d. 10.
e. 45.
d
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When demand increases in a perfectly competitive market, in the short run _______________, and in the long run _______________.
A. quantity supplied increases; supply increases B. quantity supplied increases; supply decreases C. quantity supplied decreases; supply decreases D. quantity supplied decreases; supply increases
If the total amount of demand deposits in the country increases by $12,000 after the Fed purchases $6,000 in bonds, what is the required reserve ratio?
a. 0.4 b. 0.1 c. 0.2 d. 0.5 e. 0.3
If it takes 118 Japanese yen to buy one dollar, then how many dollars does it take to buy one euro?
A) $0.0085 B) $1.18 C) $0.85 D) $0.01286 E) There is not enough information to answer the question.
Assume that the real rate of interest is 5 percent and a lender charges a nominal interest rate of 15 percent. If a borrower expects that the rate of inflation next year will be 10 percent and the actual rate of inflation next year is 12 percent:
A. neither the borrower nor the lender benefits from inflation. B. both the borrower and the lender lose from inflation. C. the borrower benefits from inflation, while the lender loses from inflation. D. the lender benefits from inflation, while the borrower loses from inflation.