Refer to the accompanying figure. The total utility of consuming two pizzas a week is:
A. 25
B. 75
C. 30
D. 55
Answer: D
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If consumption = $2,000, investment = $600, government purchases = $500, net exports = ?$40, transfer payments = $340, then _____
a. GDP = $2,720 b. GDP = $3,060 c. GDP = $3,140 d. GDP = $3,400 e. GDP = $3,340
A supply curve can be thought of as
a. a graphical display of "market potential." b. a graphical representation of the information in a supply schedule. c. showing the maximum quantities that firms are able to produce. d. a forecasting tool. e. All of the above are correct.
A decrease in wages payable during the accounting period represents a decrease in cash.
a. true b. false
Macroeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle.
Answer the following statement true (T) or false (F)