Marginal utility is the ________ satisfaction gained by consuming ________ of a good.
A. total; one more unit
B. additional; one more unit
C. total; all units
D. additional; all units
Answer: B
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If a variable moves in the opposite direction from real GDP and other measures of aggregate economic activity, it is a ________ variable
A) procyclical B) countercyclical C) coincidental D) recessionary
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and current international transactions in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls and current international transactions become more positive (or less negative). b. The real risk-free interest rate rises and current international transactions become more negative (or less positive). c. The real risk-free interest rate and current international transactions remain the same. d. The real risk-free interest rate rises and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Which of the following does Luddite reasoning get correct?
A. Historically, the demand for labor has actually increased as technology has advanced. B. New technology frequently causes some specialized labor skills to become obsolete. C. New technology tends to raise total output, leading to an increase in the demand for labor. D. Labor is necessary for building and maintaining machines, and so increased demand for machines increases the demand for labor.
When the Fed buys federal government securities on the open market from commercial banks, over time, the:
A. assets of these banks fall. B. liabilities of the bank fall. C. assets of the banks rise. D. liabilities of the bank rise.