Utility refers to
A. the value of a good or service.
B. the usefulness of a good or service.
C. the want-satisfying power of a good or service.
D. the degree to which a good or service is needed.
Answer: C
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Explain how an increased federal budget deficit resulting from a recession can actually help stabilize an economy
What will be an ideal response?
The current exchange rate system for most currencies is described most accurately as one of
A. fixed exchange rates. B. freely flexible exchange rates. C. gold standard rates. D. dirty or managed floating.
What's the firm's contribution margin?
a. $15 b. $18 c. $3 d. $4
If the output is too high, to achieve the medium run equilibrium, the central bank will
A) increases policy rate. B) reduces policy rate. C) increase money supply. D) increases inflation rate.