A utility function
A) needs to measure the absolute level of happiness.
B) needs to measure relative amounts of happiness for a single individual.
C) helps compare the relative happiness of two separate consumers.
D) is most useful if it can be influenced by others.
B
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When $1 million is deposited at a bank, the required reserve ratio is 20 percent, and the bank chooses not to make any loans but to hold excess reserves instead, then, in the bank's final balance sheet
A) the assets at the bank increase by $1 million. B) the liabilities of the bank decrease by $1 million. C) reserves increase by $200,000. D) liabilities increase by $200,000.
Which of the following will LEAST likely generate positive external effects to society?
A) education B) fast food services C) health care D) requiring drivers to undergo periodic eye examinations
In the early 1960s and early 1970s, the United States has run
a. small trade deficits. b. large trade surpluses. c. small trade surpluses. d. large trade deficits.
Suppose consumers save 8 percent of their incomes. If the government collects 4 dollar in taxes from each taxpayer and invested it in infrastructure, total social investment will ________ per taxpayer.
A. increase by $ 4.32 B. increase by $3.68 C. increase by 32 cents D. decrease by 64 cents