If the marginal net utility of beer is negative, the consumer should buy more beer in order to increase the total utility.
Answer the following statement true (T) or false (F)
False
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Along the long-run Phillips curve, the value of _____ remains constant
a. unemployment b. inflation c. the interest rate d. investment
Both a perfectly competitive firm and a monopolist find that:
A. price and marginal revenue are the same. B. they can sell as many units of output as they want at the market price. C. price is less than marginal revenue. D. it is best to expand production until the benefit and the cost of the last unit produced are equal.
The inflow of foreign investment into the United States
A. Signals a lack of confidence in the U.S. economy. B. Has no effect on the U.S. economy. C. Diminishes production possibilities for the United States. D. Stimulates more economic growth for the United States.
A risk-loving individual would:
A. prefer a risky prospect with an expected value of $5 to a certain amount of $5. B. prefer $5 with certainty to a risky prospect with the expected value of $5. C. be indifferent between a risky prospect with an expect value of $5 and a certain amount of $5. D. prefer a risky prospect with the expected value of $0.50 to $5 with certainty.