A rise in the price level
A) raises the buying power of money.
B) decreases the prices of exports.
C) lowers the buying power of money.
D) increases aggregate demand.
E) makes the aggregate demand curve steeper.
C
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Suppose that you can schedule a worker up to four hours per day. The benefit function is given by B(H) = 500H - 22.5H2 and the cost function is given by C(H) = 100 + 15H2. The corresponding marginal benefit and marginal cost functions are given by MB(H) = 500 - 45H and MC(H) = 100 + 30H. What is the best choice of hours for this worker?
What will be an ideal response?
Which of the following is the correct formula for the marginal propensity to consume?
A. MPC = 1 ÷ (1 - MP B. MPC = (total consumption) ÷ (total disposable income). C. MPC = 1 - MPS. D. MPC = (change in consumption) + (change in disposable income).
Compared with a system of fixed exchange rates, currency unions are beneficial because they
A. allow every country to have an independent monetary policy. B. restrict what countries can do with fiscal policy. C. allow exchange rates to float. D. eliminate the possibility of speculative attacks.
Refer to the information provided in Figure 6.8 below to answer the question(s) that follow.
Figure 6.8Refer to Figure 6.8. The total utility of four movies is ________ and the fourth movie's marginal utility is ________.
A. 28; 0 B. 25; 10 C. 28; 3 D. 15; 0