Marginal utility theory is used in the derivation of the
A) negative slope of demand curves.
B) negative slope of supply curves.
C) positive slope of demand curves.
D) positive slope of supply curves.
A
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An increase in the base consumption of a consumer results in a(n):
a. upward shift of the consumption function b. downward shift of the consumption function. c. upward rotation of the consumption function. d. downward rotation of the consumption function.
The velocity of money is
a. the rate at which the Fed puts money into the economy. b. the same thing as the long-term growth rate of the money supply. c. the money supply divided by nominal GDP. d. the average number of times per year a dollar is spent.
A foreign firm that is selling below cost and is accused of dumping often:
a. lowers its price further to increase the tariff imposed. b. moves its production to the importing nation to avoid the tariff completely. c. raises its export prices to reap the rents and avoid the antidumping tariff completely. d. calls for a ruling by the WTO.
You decide to skip going to a movie with friends and stay home and study. How did you reach your decision?
a. By determining that you were not interested in the movie b. By evaluating that the marginal cost of studying exceeded the marginal benefit c. By determining that the marginal benefit of studying was greater than the marginal cost d. By realizing that there was a very high opportunity cost associated with studying