If two units of a good provide 8 utils and the marginal utility of the third unit of the good is 2 utils, what is the total utility from consuming three units of the good?
A. 6 utils
B. 10 utils
C. 8 utils
D. 2 utils
Answer: B
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According to the above table, the value of M1 is
A) $1,205 billion. B) $1,213 billion. C) $1,888 billion. D) $1,629 billion.
A business manager who observes that prices in general keep rising might infer, correctly, that now is a good time to ________
A) invest to expand the business B) raise the price of her product C) expect an increase in business profits D) expect a higher return on personal savings E) all of the above
If a recession were to reduce the demand for loans, ceteris paribus,
A) the interest rate will increase. B) the interest rate will not change. C) the interest rate will decrease. D) the number of loans will increase.
Peter is looking at a graph that shows the relation between inflation and unemployment. It measures the rate of inflation along the y-axis and the rate of unemployment along the x-axis. Peter believes that the graph shown to him is a short-run Phillips curve. Which of the following will strengthen his belief?
a. The points marked on the curves are (6, 4), (6, 3), and (6, 2). b. The points marked on the curves are (5, 4), (6, 4), and (7, 4). c. The points marked on the curves are (5, 4), (6, 3), and (7, 2). d. The points marked on the curves are (5, 4), (6, 5), and (7, 6).