A consumer who has a limited budget will maximize utility or satisfaction when the:
A. ratios of the marginal utility of each product purchased divided by its price are equal.
B. total utility derived from each product purchased is the same.
C. marginal utility of each product purchased is the same.
D. price of each product purchased is the same.
Answer: A
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"The long-run Phillips curve is downward sloping." Is the previous statement correct or incorrect?
What will be an ideal response?
The Federal Reserve decides to lower the discount rate. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.
Refer to the accompanying table below. According to the Cost-Benefit Principle, how many units of this activity should be carried out?Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. 4 B. 2 C. 3 D. 5
Which country of those listed below has the highest percentage of children living in households with income below 50% of the national median?
A. Germany B. Australia C. The United States D. Canada