The economic hardship resulting from a financial crises is severe, however, there are also social consequences such as
A) increased crime.
B) difficulty getting a loan.
C) currency devaluations.
D) loss of output.
A
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Suppose you have spent your entire budget and, for all the goods you purchase, the marginal utilities per dollar spent are identical. Which of the following is true?
a. You are being irrational. b. You can increase your utility by reallocating your income. c. You will reduce your utility if you allocate income in any other way. d. You are minimizing your marginal utility. e. You can avoid diminishing marginal utility.
When an increase in the price of one good lowers the demand for another good, the two goods are called complements
a. True b. False Indicate whether the statement is true or false
Select the normative statement that completes the sentence: If wages rise more rapidly than productivity:
A. profits will fall. B. workers will earn 3/4 of GDP. C. the rate of inflation increases. D. policymakers should impose a wage ceiling.
At what level of output does marginal cost equal marginal revenue?No. units producedTotal RevenueTotal Costs000101204020200100302701704031026050330370
A. 30 B. 20 C. 10 D. 40