Refer to the information provided in Table 6.3 below to answer the question(s) that follow.
Table 6.3Dozens of Oysters per DayTotal UtilityMarginal Utility160?2104?3134?4152?5?8Number ofBeers per DayTotal UtilityMarginal Utility140?270?394?4114?5?14Refer to Table 6.3. The marginal utility of the third dozen oysters per day is
A. 10.
B. 30.
C. 44.
D. 134.
Answer: B
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a. the 7 Governors of the Federal Reserve System. b. the 12 presidents of the Federal Reserve Banks. c. the 7 Governors and the Chairman of the Council of Economic Advisors. d. the 7 Governors and 5 of the presidents of the 12 regional Federal Reserve Banks.
For a country such as the U.S., the wealth effect exerts a very important influence on the slope of the aggregate-demand curve, since U.S. wealth is large relative to wealth in most other countries
a. True b. False Indicate whether the statement is true or false
If an excise tax is placed on a product that has a perfectly inelastic demand, then:
A. the entire tax will be paid by the consumer. B. the entire tax will be paid by the producer. C. the consumer and producer will each pay a share of the tax. D. the incidence of the tax cannot be determined unless we know the coefficient of price elasticity of supply.
Which law specifically mandated the federal government's responsibility for economy-wide stability?
A. the Volcker Act of 1960 B. the Glass-Steagall Act of 1933 C. the Employment Act of 1946 D. the Sherman Act of 1890