The amount of money people wish to hold shows an inverse relationship to
A) the interest rate. B) their planned near-term purchases.
C) the money supply. D) the income tax rate.
A
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Suppose Enid could increase her total utility by purchasing one more book and one less video rental. Which of the following is true?
a. The marginal utility of video rentals exceeds the marginal utility of books. b. The marginal utility of books exceeds the marginal utility of video rentals. c. The marginal utility of video rentals is negative. d. The marginal utility per dollar spent on books exceeds that of video rentals. e. Total utility is at a maximum.
From 1865 to 1900, the production of wheat, corn, and cotton
A. increased much more slowly than population growth. B. increased somewhat more slowly than population growth. C. increased at about the same pace as population growth. D. increased faster than population growth.
The expression "There's no such thing as a free lunch" means that
a. services may be free, but goods are never free b. even if it has a price of zero, a good or service has a cost c. charitable organizations should not serve free lunches to the poor d. poor people are really the ones who pay for their allegedly free lunches e. someone has to pay the market price for a good or service
A production possibilities curve shows the various:
a. prices that can be charged for capital and consumption goods. b. combinations of prices and outputs that can be produced. c. combinations of goods the economy has the capacity to produce. d. combinations of resources and prices that the economy can produce.