The total utility from consuming five muffins is 14, 24, 35, 43, and 50 utils, respectively. Marginal utility begins to diminish after consuming the first muffin
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is the most essential prerequisite for successful conduct of the "game" of urban traffic?
A) An advance plan to coordinate the moves of participants B) Drivers who care as much about other people's interests as their own C) Extensive information on other drivers' destinations and objectives D) General consensus on and following of traffic rules
Which of the following is considered a command economy?
a. communism b. socialism c. fascism d. All of these.
The Keynesian analysis of fiscal policy argues that:
a. fiscal policy should generally be expansionary except during periods of economic recession. b. fiscal policy should generally be restrictive except during inflationary booms. c. the federal budget should be balanced annually except during war. d. the federal budget should be used to maintain aggregate demand at a level consistent with full employment.
In periods of high inflation,
a. people want to hold on to as much money as possible. b. the purchasing power of money is decreasing. c. nobody wants to work and earn income. d. low nominal interest rates are likely to result. e. nobody wants to buy goods and services.