Refer to the accompanying figure. As Jeff watches more movies, his marginal utility:
A. gets close to one
B. does not change
C. gets smaller
D. gets larger
Answer: C
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The economist John Kenneth Galbraith (1979) lists several major sources of weakness in the economy that laid the groundwork for the collapse of the 1930s. These sources include all of the following except
(a) A weak banking structure (b) Ignorance of the economy's problems by the nation's leaders (c) An overgrown federal bureaucracy with extensive regulation of the private economy (d) An increasingly unequal distribution of income
When Patricia sells her General Motors common stock at the same time that Brian purchases the same amount of General Motors stock from another party, General Motors receives
A) the dollar value of the transaction. B) only the par value of the common stock. C) nothing. D) the dollar amount of the transaction, less brokerage fees.
Why does a tax change affect aggregate demand?
a. A tax change alters saving by an equal amount. b. A tax change alters imports and net exports. c. A tax change alters government spending by an equal amount. d. A tax change alters disposable income and consumption spending.
Use the information in the table below.Total salesIndustry 1Firm 1$5.3mFirm 2$199,000Firm 3$2.6mFirm 4$850,000What is the Herfindahl index for Industry 1?
A. 3481 B. 9801 C. 4407 D. 30,798