We take one dollar from a millionaire and give it to a pauper. Assuming a diminishing marginal utility of money?
a. total utility in the economy must rise.
b. total utility in the economy must fall.
c. total utility in the economy must remain the same.
d. we cannot say whether or not total utility changes.
Answer: d. we cannot say whether or not total utility changes.
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Answer the question using the table. Figures are in billions of dollars. The equilibrium interest rate and quantity of loanable funds demanded and supplied in this market will be
A. 12 percent and $22 billion. B. 14 percent and $26 billion. C. 10 percent and $18 billion.
The currencies most often used in international transactions are frequently called
A) vehicle currencies. B) seignorage. C) target currencies. D) competitive currencies.
Oligopoly is an industry with a small number of firms producing homogeneous or differentiated goods with minimal barriers to entry
a. True b. False Indicate whether the statement is true or false
A single price monopolist has a demand curve: P = 500 - 50Q. It has the total cost curve: TC = 1000 + 100Q. If the firm is a profit maximizer or loss minimizer, what output and price should it plan for?
What will be an ideal response?