Answer the following statement(s) true (T) or false (F)
1. Different people get the same marginal utility per dollar from the same product.
2. Total utility is always less than or equal to marginal utility.
3. As additional units of a good are acquired, marginal utility increases.
4. At consumer equilibrium, all goods have the same total utility.
5. Rational consumers have to take price into consideration to maximize their satisfaction.
1. False
2. False
3. False
4. False
5. True
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Hyperinflation occurs when
A) the inflation rate rises. B) the inflation rate declines. C) the inflation rate is extremely high. D) the inflation rate is extremely low.
What is the source of the supply of loanable funds?
In response to an unanticipated easing of monetary policy, the Fed funds rate ________ at first, then ________ after 6 to 12 months
A) rises; returns most of the way to its original value B) falls; returns most of the way to its original value C) remains roughly unchanged; rises significantly D) remains roughly unchanged; falls significantly
Sum of the quantities supplied by each seller in the market at each price
What will be an ideal response?