There is no deadweight loss if:
A. demand is perfectly inelastic.
B. demand is perfectly elastic.
C. demand shifts the amount of the tax.
D. taxes collected are used for societal good.
Answer: A
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An autonomous decrease in money demand, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
For macroeconomics, banks
A) are similar to other firms. B) can be abstracted away. C) play a key role. D) are similar to households.
The utility derived from consuming a good depends on:
a. the price of the good. b. the market demand for the good. c. your tastes and preferences. d. your income level.
Which of the following is true about marginal utility?
a. Marginal utility is total utility divided by the total quantity consumed. b. Marginal utility is the change in total utility derived from a one-unit change in consumption of a good. c. Marginal utility is the total satisfaction that a consumer experiences from all the units of a good or service consumed. d. Marginal utility usually increases with in increase in consumption.