Given the information in Figure 14.4, the competitive wage rate is:
A) W1.
B) W2.
C) W3.
D) W4.
E) none of the above
B
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Marginal utility is the
a. overall satisfaction obtained from consuming a good b. additional satisfaction obtained from consuming one more unit of a good c. average satisfaction obtained from consuming a good d. the change in satisfaction obtained from consuming 1 percent more of a good e. additional cost of one more unit of a good
If the fiscal policy makers aim to increase aggregate demand, they will likely enact:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. expansionary monetary policy. D. contractionary monetary policy.
Economies of scale and scope encourage free competition.
Answer the following statement true (T) or false (F)
The interest rate charged by the Fed to member banks is called the _____
Fill in the blank(s) with correct word