Firms choose the highest production indifference curve they can obtain given the lowest possible budget line.
Answer the following statement true (T) or false (F)
True
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The fact that rubies are more expensive than milk reflects the fact that for most consumers
A) the total utility from rubies exceeds that from milk. B) the marginal utility from rubies equals that from milk. C) more milk is consumed than rubies. D) a quart of rubies is considered to be prettier than a quart of milk.
If the MPC = 0.75, then the spending multiplier must be:
A. 5 B. 4 C. 3 D. 1.25
The Federal Reserve monetary policy goals of maximum employment mean..
What will be an ideal response?
Which of the following is an example of using physical capital to save time and money?
(A) Hiring more workers to do a job. (B) Lowering workers' wages to increase profits. (C) Building extra space in a factory to improve production. (D) Switching from oil to coal to make production cheaper.