Utility measurements are:
A. used to compare one person's preference for a good to another person's preference.
B. a relative ranking of how much different people enjoy a particular good.
C. a relative ranking of the satisfaction a person gets from alternative combinations of things.
D. None of these is true.
Answer: C
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List four types of government policies which can aid economic growth
What will be an ideal response?
Inflation tends to ________ during a business cycle expansion and ________ during a business cycle recession
A) increase; decrease B) decrease; increase C) increase; increase further D) decrease; decrease further
If the MPC of an economy is 0.90 and the economy has a horizontal aggregate supply curve, then an increase in investment spending of $50 million will increase total income by
A. $50 million. B. more than $50 million but less than $500 million. C. $500 million. D. more than $500 million.
Consider Figure 12.5. Confessing is a dominant strategy for:
A. player A but not player B. B. player B but not player A. C. both players. D. neither player.