If the price level for the last three months has been 112, 125, and 126, we would say
A) inflation has been constant over the three months.
B) inflation was more rapid between the first and second month than between the second and third month.
C) inflation was less rapid between the first and second month than between the second and third month.
D) inflation has steadily increased over the three months.
B
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Refer to Table 10-2. Holding prices constant, when Keira's income changed from $18 to $23, what happens to her total utility and to the marginal utilities of the last cup of soup and the last sandwich purchased?
A) Her total utility and the marginal utility of the last sandwich consumed increase but marginal utility of the last cup of soup consumed decreases. B) Her total utility and the marginal utility of the last cup of soup consumed increase but marginal utility of the last sandwich consumed decreases. C) Her total utility decreases but the marginal utilities of the last cup of soup and the last sandwich consumed increase. D) Her total utility, the marginal utility of the last cup of soup consumed, and the marginal utility of the last sandwich consumed all increase. E) Her total utility increases but the marginal utilities of the last cup of soup and the last sandwich consumed decrease.
In the 1770s the per capita income in the colonies:
a. was higher than the per capita income in developing countries today. b. was significantly lower than the per capita income in England during the same period. c. was impossible to determine due to inaccurate and incomplete data. d. was lower than the current per capita income in developing countries..
In the presence of Regulation Q, when interest rates would rise, _____
a. the transaction demand for money in the economy would increase b. people would invest in the bond markets c. the economy would grow faster d. people would withdraw money from banks seeking higher interest rates elsewhere e. the U.S. dollar would depreciate
Figure 9-2
The output of the economy depicted in is
a.
equal to the full-employment output.
b.
greater than the full-employment output.
c.
less than the full-employment output.
d.
not sustainable in the long run.