Marginal utility of the second slice of pizza you eat is larger than the marginal utility of the first slice of pizza you eat.
a. true
b. false
b. false
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A country's long-run aggregate supply curve will shift to the left when there is (are)
A) fewer regulatory impediments to business. B) a discovery of new oil reserves in that country. C) a reduction in the labor force. D) a reduction in the money supply.
Economics is a social science rather than a "hard" science like physics because
a. economists abstract from reality when creating their theories. b. economics is easier to study than physics. c. economists must explain their theories to policy makers who lack formal mathematical training. d. economists study human behavior, which is affected by an unpredictable and vast range of influences.
The Reserve Bank of Glassen is the apex banking institution in the country of Glassen. Money supply in Glassen will increase when:
a. the Reserve Bank of Glassen buys bonds from commercial banks
b. the Reserve Bank of Glassen raises the required reserve ratio for commercial banks.
c. the Reserve Bank of Glassen sells government bonds to commercial banks.
d. the Reserve Bank of Glassen raises the discount rate for commercial banks.
e. the Reserve Bank of Glassen prints new checks.
The growing popularity of a commercial weight-loss diet that includes reducing the amount of carbohydrates consumed will cause:
A. a movement down and to the right along the demand for bread curve. B. a movement up and to the left along the demand for bread curve. C. an increase in the demand for bread. D. a decrease in the demand for bread.