Given that price is constant, the lower the marginal utility of a good as more of the good is consumed the:
A. fewer substitutes there are.
B. more you are willing to buy of it.
C. more substitutes there are.
D. less you are willing to buy of it.
Answer: D
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If nominal GDP rose by 10 percent and the price index increased from 100 to 105 in a given year, real GDP: a. rose by 15 percent
b. rose by roughly 9.5 percent. c. rose by 5 percent. d. fell by 5 percent.
People in a certain group have a 0.3% chance of dying this year. If a person in this group buys a life insurance policy for $3,300 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of a policy to the insurance company?
A) $0 B) $300 C) $3,000 D) $3,300
Which of the following would be included in M2, but not included in M1?
A. demand deposits B. checking accounts C. money market accounts D. none of the above
The Millennium Development Goals adopted by the United Nations included targets for conservation management.
Answer the following statement true (T) or false (F)