Total utility
A) is equal to the sum of the marginal utilities of all units consumed.
B) cannot decrease as a person consumes more and more of a good.
C) has a constant rate of increase as a person consumes more and more of a good.
D) is negative when marginal utility is declining.
A
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If a financial portfolio manager in the U.S. buys British company stocks in the London Stock Exchange, this would result in ________.
A. an increase in the demand for U.S. dollars in the foreign exchange market B. an increase in the supply of British pounds in the foreign exchange market C. no effect on the demand for British pounds in the foreign exchange market D. an increase in the demand for British pounds in the foreign exchange market
Most students attending college pay tuition and are unable to hold a full-time job. For these students, tuition is
A) part of the opportunity cost of going to college. So are their forgone earnings from not holding a full-time job. B) part of the opportunity cost of going to college. Their forgone earnings from not holding a full-time job are not part of the opportunity cost of attending college. C) not part of the opportunity cost of going to college, but their forgone earnings from not holding a full-time job are part of the opportunity cost of attending college. D) not part of the opportunity cost of going to college. Neither are their forgone earnings from not holding a full-time job.
If the price index last year was 1.0 and today it is 1.4, what is the inflation rate over this period?
A) -4% B) 1.4% C) 4% D) 40%
The government often enacts regulation that benefits producers because
a. the government seeks to regulate in the best interest of the public b. consumers have less information than producers and therefore seek government protection c. consumers have a strong interest in matters that affect their standard of living d. producers have a strong interest in matters that affect their specialized source of income e. producers seek to act in the best interest of the public