If the commercial is TRUE that every additional bite of food tastes as good as the first, the marginal utility from consuming more of the advertised product must be
A) increasing.
B) decreasing.
C) constant.
D) zero.
Answer: C
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M2 includes M1 plus
A) savings account balances, money market deposit accounts in banks, small-denomination time deposits, and noninstitutional money market fund shares. B) checking account deposits, large-denomination time deposits, and noninstitutional money market fund shares. C) currency in circulation, checking account deposits in banks, and holdings of traveler's checks. D) currency in circulation, savings account balances, and small-denomination time deposits.
A union contract requiring elevator operators in a building with automatic elevators is an example of
A) a closed shop. B) featherbedding. C) a lockout. D) a right-to-work requirement.
Cost-push inflation:
A. reduces real output. B. increases real output. C. reduces the unemployment rate. D. raises the natural rate of unemployment.
In response to news reports that drinking a glass of red wine each day can reduce an individual's risk of heart disease, there will most likely be a(n)
A. increase in the demand for red wine. B. increase in the supply of red wine. C. decrease in the supply of red wine. D. increase in the quantity demanded of red wine.