Suppose that the marginal benefit per dollar spent on bicycles exceeds the marginal benefit per dollar spent on skateboards. The consumer can always increase their utility by buying:
A. more bicycles and fewer skateboards.
B. fewer bicycles and more skateboards.
C. more of both goods.
D. The consumer is already maximizing utility.
Answer: A
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The CPI was 225 in 2008 and 232.2 in 2009. The nominal interest rate during this period was 1.4 percent. What was the real interest rate during this period?
A) 3.2 percent B) 1.8 percent C) 4.6 percent D) -3.2 percent E) -1.8 percent
The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment?
A) structural unemployment B) cyclical unemployment C) seasonal unemployment D) frictional unemployment
The phrase, "Google stock soared Friday, continuing Wall Street's love affair with the company," implies that Google's earnings were much more than it was expected in that quarter
a. True b. False Indicate whether the statement is true or false
Graphically illustrate the quantity rule and the shutdown rule for a price-taking firm.
What will be an ideal response?