Use the figure below to answer the following question.
The marginal benefit of the second unit of X is ________.
A. 17
B. 4
C. 5
D. 11
Answer: C
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The current price of concert t-shirts is $20 each, and the company has been selling 400 per week. If price elasticity is 2.5 and the price changes to $21, how many t-shirts will be sold per week?
What will be an ideal response?
When the interest rate on alternative investments rise, it becomes costly for the bondholders to retain their bonds with them
a. True b. False Indicate whether the statement is true or false
The Fed's power to set the required reserves of commercial banks:
A. provides a certain source of interest income for commercial banks. B. allows the Fed to control the lending ability of commercial banks and, thereby, control the money supply. C. prevents banks from hoarding too much vault cash. D. prevents commercial banks from earning excess profits.
Using real GDP on the horizontal axis instead of real disposable income implies that a marginal propensity to consume 0.6 generates for every additional $100 of real GDP, there is
A. $40 of additional saving and taxes. B. $40 of additional consumption spending. C. $4 of additional saving. D. $60 of additional real disposable income.