The term ______ refers to the additional utility provided by one additional unit of consumption.
A. added utility
B. Giffen utility
C. marginal utility
D. utility
Answer: C. marginal utility
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The present value of $100 to be received one year from now
A) is $100. B) is $110. C) is $90. D) cannot be determined without knowing the interest rate.
Suppose when the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. Using the mid-point method, the percentage change in price is:
A. 40 percent B. 46 percent C. 1.31 D. 0.35
Daniel has $300 in a bank account. Some years ago he put $213.20 into this account, and it has earned 5 percent interest every year since then. How many years ago did Daniel open his account?
a. 4 years b. 5 years c. 6 years d. 7 years
The era of "trust-busting" took place in the years
A. before World War I. B. after World War I. C. before World War II. D. after World War II.