Utility measures the
a. income a consumer receives from consuming a bundle of goods.
b. satisfaction a consumer receives from consuming a bundle of goods.
c. satisfaction a consumer places on her budget constraint.
d. All of the above are correct.
b
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The immediate impact when the Federal Reserve buys government securities
A) from banks is that the level of bank reserves will decrease. B) from government security dealers is that the level of bank reserves and deposits will increase. C) from government security dealers is that the level of bank reserves will increase and the level of deposits decrease. D) from banks is that the level of deposits will increase but bank reserves will decline.
Fiscal policy is the use of government spending and taxation to make changes in the level of national income
Indicate whether the statement is true or false
The opportunity cost associated with increasing U.S. national security is complicated by the fact that
a. national security is not a good b. there is no trade-off between national security and other goods c. national security cannot be produced d. U.S. national security depends upon national security expenditures of other nations e. war is an inherent human activity
Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. QuantityPrice1$102$93$84$75$66$57$48$3If the marginal cost of producing each unit of output is $5, then this monopolist maximizes its profit by charging ________ per unit.
A. $5 B. $6 C. $8 D. $3