Suppose that the marginal utility of four units purchased is $10 and total utility is $53. If the marginal utility of the fifth unit purchased is $7, how much is the total utility of five units?
What will be an ideal response?
$53 + $7 = $60
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Which of the following statements is false?
A) Imports and exports account for over one-half of the GDP of the Netherlands. B) China is the leading exporting country, accounting for 10.3 percent of total world exports. C) Because the cost of labor used on farms is so high, the United States exports very little of its wheat, rice, and corn crops. D) Japan is less dependent on foreign trade than is the United States.
Which of the following ia a belief of classical theory?
a. Long-run full employment. b. Inflexible wages. c. Inflexible prices. d. All of these.
Refer to Exhibit 2-1. If the economy is at point C, it follows that
 ANSWER 3.png)
People who have bought a house using an adjustable-rate mortgage are most likely to be hurt by
A. an increase in the federal funds rate. B. a decrease in the reserve requirement. C. an increase in the inflation rate. D. an increase in the amount of the Fed's discount lending.