Suppose your tastes can be represented by the utility function 
. Your demand for 
is
A.
.B.
.C.
D.
E.
Answer: D
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In March a factory used new technology to produce its output. Then in August a fire destroys half the factory. The new technology shifted the factory's PPF ________ and the fire shifted it ________
A) inward; outward B) outward; inward C) outward; outward D) inward; inward
What is the marginal cost of producing one unit of A for an economy that produces only two goods, A and B
Suppose that the Fed undertakes an open market purchase of $5 million worth of securities from a bank. If the required reserve ratio is 12%, what is the resulting change in checkable deposits (or the money supply), assuming that there are no cash leakages and that banks hold zero excess reserves?
A) $4.17 million B) $7.95 million C) $5.68 million D) $41.67 million
As a student of economics, when you speak of scarcity, you are referring to the ability of society to:
A. satisfy economic wants given limited resources. B. employ all of its resources. C. consume all that is produced. D. continually make technological breakthroughs and increase production.