During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. After the third pie, your total utility:
A. stayed the same.
B. increased, but by less than for the first three pies.
C. was zero.
D. decreased.
Answer: D
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Consider the following data for a closed economy:
a. Y = $12 trillion b. C = $8 trillion c. I = $3 trillion d. TR = $2 trillion e. T = $3 trillion Use the data provided to calculate the level of private saving and the level of public saving and demonstrate their relationship to investment.
Caitlin has just decided to order a computer that is made in Japan. She needs to convert U.S. dollars for Japanese yen. This conversion takes place in the
A) International Monetary Fund. B) target zone. C) foreign exchange markets. D) SDRs.
Which of the following is a result of discrimination?
a. Two groups of workers earning different wages. b. Two groups of workers paid the same wage, but proportionally fewer of one group are employed. c. Equal pay and equal employment opportunities for two groups of workers with different productivities. d. No workers from a particular group are employed.
If European economies experience a strong economic recovery, U.S. net exports will
a. increase and AD will shift outward. b. increase and AD will shift inward. c. decrease and AD will shift inward. d. decrease and AD will shift outward.