Refer to Figure 19.2. The total utility of five apples is
A. 20 utils.
B. 1 utils.
C. 17 utils.
D. 18 utils.
Answer: D
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The exclusive rights of ownership that allow the use, transfer, and exchange of property are called
A) common property rights. B) private property rights. C) externalities. D) social benefits.
If stock prices follow a random walk,
a. speculation in the stock market destabilizes prices. b. a stock's past performance is not a good indicator of its future performance. c. rumors, news, and other "signals" have no effect on stock prices. d. the stock market does not participate in channeling resources toward firms with high stock prices.
QN=64 (17762) Macroeconomists study
a. the decisions of households and firms. b. the interaction between households and firms. c. economy-wide phenomena. d. regulations on firms and unions.
If a bank subject to a 10% required reserve ratio has $10,000 in excess reserves, it can extend, at a maximum, which quantity of new loans?
A. $1,000 B. $9,000 C. $10,000 D. $100,000