Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The marginal utility of the third video game rental is
A. 0.
B. 4.
C. 8.
D. 22.
Answer: B
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Using the information in the table above, calculate gross domestic product
A) $118 B) $108 C) $86 D) $78
If the Fed purchases $1 million worth of securities and the required reserve ratio is 8%, by how much will deposits increase (assuming no change in excess reserves or the public's currency holdings)?
A) rise by $1 million B) decline by $1 million C) rise by $8 million D) rise by $12.5 million
When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand
a. True b. False Indicate whether the statement is true or false
Omondi’s country has undergone significant economic growth over the past 15 years. What conclusion can be reached about his country?
a. It is authoritarian. b. It is democratic. c. It is neither authoritarian nor democratic. d. It could be either authoritarian or democratic.