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 divided by the change in total quantity demanded.
c. Marginal utility is the satisfaction that a consumer experiences from all the units of a good or service consumed.
d. None of the above are true.
b
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In Michael Porter's five competitive forces model, what do the competitive forces determine?
What will be an ideal response?
How do critics of discretionary stabilization policy view frequent changes in spending and tax policy?
a. The changes make the economy smoother, although it may not look that way to individual firms. b. The changes make life more difficult and hectic for Congress and the Fed. c. The changes smooth out the business cycle, making planning easier. d. The changes cause more instability in the economy and make planning more difficult.
Given that India and Sri Lanka are trading partners, if Sri Lanka experiences a recession, the aggregate demand curve of India will shift to the right
a. True b. False Indicate whether the statement is true or false
International trade under these conditions
Suppose Canada can produce either 120 units of goods, 80 units of services, or any linear combination thereof. Mexico can produce 90 units of goods, 50 units of services, or any linear combination thereof. a) cannot benefit either country b) can only benefit Mexico c) can only benefit Canada d) can benefit both countries if Canada exports goods and imports services e) can benefit both countries if Canada exports services and imports goods