Liz's marginal utility for two different goods is determined by
A) her average utility for the two goods.
B) how much benefit she gets from another unit of each of those goods.
C) summing her total utility from consumption of each good and then dividing by two.
D) All of the above answers are correct.
B
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Identify changes in three variables that would cause the FE line to shift to the right
What will be an ideal response?
If the MPC is 0.80, and if the goal is to increase real GDP by $200 million, then by how much would government spending have to change to generate this increase in real GDP?
A. $240 million. B. $200 million. C. $180 million. D. $40 million.
An insecure monopoly is one where:
A. a new patent has been granted. B. the possibility of a second firm entering exists. C. no other firms can enter. D. price-fixing is illegal under the Sherman Act.
The most important among the Federal Reserve district banks in conducting monetary policy is the:
A. Boston bank B. Chicago bank C. New York bank D. San Francisco bank