It is impossible for total utility to be ________ when marginal utility is ________.
A. increasing; decreasing
B. positive; negative
C. decreasing; positive
D. increasing; increasing
Answer: C
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The presence of transactions costs and information costs
A) lowers the cost of funds to borrowers. B) raises the expected return to lenders. C) lowers the expected return to lenders. D) increases the efficiency of the financial system.
Given the Production Function Q = 72X + 15X2 - X3, where Q = Output and X = Input
a. What is the Marginal Product (MP) when X = 8? b. What is the Average Product (AP) when X = 6? c. At what value of X will Q be at its maximum? d. At what value of X will Diminishing Returns set in?
A decrease in the price level in an economy is likely to cause a: a. decrease in the real value of dollar-denominated assets. b. downward shift of the aggregate expenditure line
c. decrease in the equilibrium level of output demanded. d. downward movement along the aggregate demand curve. e. leftward shift of the aggregate demand curve.
Business cycles are a persistent feature of the U.S. economy
a. True b. False Indicate whether the statement is true or false