If total utility is increasing as more of a good is consumed:
a. marginal utility must be decreasing
b. marginal utility must be increasing at an increasing rate.
c. marginal utility is positive.
d. both (b) and (c) are true.
c
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Many movie theaters allow discount tickets to be sold to senior citizens because
a. senior-citizen laws mandate such discounts. b. goodwill efforts earn community respect and win loyal patrons. c. the theaters are profit maximizers. d. senior citizens lobby city councils for lower prices.
When Bank A obtains a loan from the Fed, the
A) discount rate is probably higher than the federal funds rate. B) bank's reserves increase. C) simple deposit multiplier decreases. D) b and c E) none of the above
The base period is a year
A. From which data were first collected. B. In which a series of data reaches an extreme (high or low) point. C. From which the latest data is available. D. Used for comparing the data for other years.
Inflation caused by an increase in aggregate spending is referred to as:
a. Hyperinflation b. Demand-push inflation c. Cost-push inflation d. Demand-pull inflation