Refer to the table below. The consumption of which bar yields the greatest marginal utility?
The table below shows the utility schedule for a consumer of candy bars.
A. Third
B. Fourth
C. Sixth
D. Second
A. Third
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During the antebellum period, the federal government assumed
(a) responsibility for full employment. (b) responsibility for stable prices. (c) responsibility for the overall economy through control of the money supply. (d) little responsibility for most economic matters, leaving them to private individuals in businesses and households.
How does a tax cut affect the expenditure schedule?
a. It causes movement to the left along the schedule. b. It causes the schedule to shift upward. c. It causes movement to the right along the schedule. d. It causes the schedule to shift downward.
Zane's Vanes is a service that restores old weather vanes. Zane has just spent $125 purchasing a 1920s-era weather vane which he expects to restore and sell for $500 once the work is completed. After having spent $125, Zane realizes that he will need to
spend an additional $200 on materials to complete the restoration. Alternatively, he can sell the weather vane without restoring it for $200. What should he do? A) He should sell the weather vane now to make the most profit. B) It does not matter what he does; he is going to take a loss on the project. C) He should finish the restoration and then sell the weather vane. D) He should sell the weather vane back to the party he purchased it from and cut his losses.
What gives money value under a fiat system?
A. Fiat money is the same as Treasury bonds. B. Fiat money is backed by gold. C. Fiat money is also a commodity. D. The supply of fiat money is controlled by the government.