The marginal cost curve intersects the minimum of which of the following cost curves?
A. AFC.
B. MPP.
C. TC.
D. ATC.
Answer: D
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The U.S. Department of Energy is investing $60 billion in rural parts of the U.S., largely in the Great Plains, in order to develop what alternative source of energy?
a. Wind power b. Solar power c. Biofuels d. Hydroelectric
Which of the following tools is NOT a policy tool of the Fed?
A) last resort loans B) the tax rate on interest income C) the reserve ratio D) open market operations
The Heckscher-Ohlin Theorem predicts
A) who benefits and who loses from trade. B) which factors are abundant. C) the income distribution effects of trade. D) which goods will be exported. E) the importance of intraindustry trade.
Carla is spending all her income on only two goods: apples and bananas. The price of an apple is $2 and the price of a banana is $1 . If Carla's marginal utility of an apple is 4 and her marginal utility of a banana is 3, she should consume:
a. more apples and fewer bananas to maximize total utility. b. more bananas and fewer apples to maximize total utility. c. more apples and more bananas to maximize total utility. d. fewer apples and fewer bananas to maximize total utility. e. her current amounts of apples and bananas to maximize total utility.