Refer to the information provided in Table 6.2 below to answer the question(s) that follow.
Table 6.2Number ofCandy Bars per DayTotal UtilityMarginal Utility140?275?3100?4115?5?5Number ofHot Dogs per DayTotal UtilityMarginal Utility130?254?372?484?5?6Refer to Table 6.2. Diminishing marginal utility sets in after the ________ candy bar per day.
A. first
B. second
C. third
D. fourth
Answer: A
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In the Fixed Time Effects regression model, you should exclude one of the binary variables for the time periods when an intercept is present in the equation
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In Figure 5.1, the demand curve that has an infinite elasticity is shown on graph:
A. A. B. B. C. C. D. D.
If the economy is underutilizing its economic resources, the Fed should
A. expand the money supply to increase aggregate demand. B. contract the money supply to decrease aggregate demand. C. discourage investment spending. D. decrease aggregate supply.