If total utility from consuming two cups of coffee is 20 utils, and if the total utility from consuming three cups of coffee is 25 utils, then which of the following is the marginal utility of the third cup of coffee?
A. 0.
B. 5.
C. 20.
D. 25.
Answer: B
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Free trade is viewed as key to economic development because
A) it encourages a faster spread of technology. B) it encourages a country's exports only. C) it brings in expensive new technology. D) none of the above is correct.
Which of the following markets best approximates the perfectly competitive market structure?
a. automobile manufacturing b. insurance c. world commodity markets d. airlines e. manufacture of stereo equipment
A person who performs supervisory activities will also be a _____ if she/he is financially responsible for investment and other contracted decisions
a. residual claimant b. director c. shareholder d. financial advisor
In the monetary small open-economy model with a fixed exchange rate, the domestic
A) government loses control over the level of domestic government spending. B) government loses control over the level of domestic taxes. C) government loses control over the level of domestic government spending and domestic taxes. D) central bank loses control over the domestic stock of money.