A production function is a(n)
A) cost relationship.
B) economic relationship.
C) accounting relationship.
D) technological relationship.
Answer: D
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Marginal utility can fall even as total utility from the consumption of a good is rising.
Answer the following statement true (T) or false (F)
An increase in the U.S. demand for Japanese yen causes
A) an increase in the dollar price of a yen. B) an increase in the yen price of a dollar. C) an increase in the demand for U.S. goods. D) a decrease in the supply of yens.
An early frost in the vineyards of Napa Valley would cause a(n)
a. increase in the demand for wine, increasing price. b. increase in the supply of wine, decreasing price. c. decrease in the demand for wine, decreasing price. d. decrease in the supply of wine, increasing price.
Exhibit 15-7 Lower Walloon National Bank Assets Liabilities Reserves$10,000 Checkable deposits$10,000 In Exhibit 15-7, if the required reserve ratio is 20 percent for all banks, and every bank in the banking system loans out all of its excess reserves. Then a $10,000 deposit from Mr. Brown in checkable deposits could create for the entire banking system:
A. $8,000 worth of new money. B. $2,000 worth of new money. C. $10,000 worth of new money. D. $40,000 worth of new money.