Brandi loves cookies. She receives 200 utils for one cookie, 360 for two cookies, 490 for the third, 560 for four cookies, and 600 for five cookies. The marginal utility of the third cookie is
A. 490.
B. 70.
C. 130.
D. cannot be determined.
Answer: C
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Which of the following tools cannot be used by the government to maintain a fixed exchange rate?
A. rationing of foreign exchange B. currency market intervention C. controlling the flow of trade through various barriers D. keeping its level of international reserves strictly fixed
As more and more businesses accept credit cards, the
A) demand for money decreases. B) supply of money decreases. C) quantity of money demanded decreases. D) demand for money increases. E) quantity of money demanded increases.
________ occurs when actions taken by one party to a transaction are different from what the other party expected at the time of the transaction
A) Adverse selection B) Risk aversion C) Moral hazard D) Fraud
Life expectancy at birth for the world rose from 24 years to 26 years between 1000 and 1820, but by 2003, life expectancy had risen to
a. 36 years. b. 44 years. c. 52 years. d. 64 years.