The total utility from consuming 8 units of a good is 155. The marginal utility of the 8th unit is 7 and the marginal utility of the 7th unit is 11. The total utility from consuming 6 units of the good is
A. 173.
B. 137.
C. 130.
D. 144.
Answer: B
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If a country has an expenditure multiplier of 10, the slope of its aggregate planned expenditure (AE) curve is
A) .90. B) 10.00. C) .50. D) .10. E) .80.
On the 45-degree line diagram, for points that lie above the 45-degree line
A) planned aggregate expenditure is less than GDP. B) planned aggregate expenditure is greater than GDP. C) planned aggregate expenditure is equal to GDP. D) planned aggregate expenditure is less than aggregate income.
Which of the following would likely increase the money supply?
a. The purchase of government securities by one bank from another bank b. An increase in the required reserve ratio c. An increase in the reserves of a commercial bank d. An increase in the discount rate e. The sale of government securities by a bank to the Fed
Which of the following is an example of the gambler's fallacy? a. If you flip a coin six times and it comes up heads each time, when you flip for the seventh time the odds are better that it will come up tails. b. People think that housing prices will continue to rise because they have continually risen over the past 10 years. c. If I send my resume to enough employers, the law of averages
says that someone will eventually hire me. d. all of the above