Mark's marginal utility from reading books is the ________ when he reads ________
A) change in his total utility; one additional book
B) total utility he gets; one more book
C) change in his total utility; more books
D) consumer surplus he gets; books
A
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Due to a boom in the US, the average rate of return on investments is likely to rise causing the US dollar to
a. Appreciate b. Depreciate c. Not change in value d. None of the above
At the most basic level, the distinguishing characteristic of government that makes it different from private firms is its ability to
a. use coercive force against adults to modify their behavior or force them to pay for a good or service. b. direct resources in a manner that serves the public interest rather than the private interest of individuals. c. produce goods and services that people value. d. escape the constraints imposed by scarcity.
What are the cost and benefits to a country instituting capital controls?
What will be an ideal response?
The amount of unemployment varies
a. little over time and across countries. b. little over time but substantially across countries. c. substantially over time but little across countries. d. substantially over time and across countries.