Suppose that the total utility of consuming the first piece of chewing gum in a packet is 30. This means that marginal utility of consuming the first piece of gum is:
A. less than 30.
B. zero.
C. 30.
D. more than 30.
Answer: C
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Increased domestic imports and higher international trade deficits are possible results of government surpluses
a. True b. False Indicate whether the statement is true or false
If the price of mozzarella cheese (an ingredient in pizzas) declines due to a major technological breakthrough in the dairy industry, there would be:
A) a decrease in the supply of pizza. B) an increase in the supply of pizza. C) an increase in the quantity of pizza supplied. D) no change in the supply of pizza.
The government weighs the potential cost savings resulting from a merger against the potential anticompetitive problems to determine whether or not to allow a merger to take place.
Answer the following statement true (T) or false (F)
If there is persistent inflation
A. long-run aggregate supply is constant. B. long-run aggregate supply is growing at a slower rate than aggregate demand. C. long-run aggregate supply is growing at a faster rate than aggregate demand. D. there is an excess of total planned expenditures.