The term utility refers to the:

A. pleasure or satisfaction a consumer receives upon consuming a good.
B. necessity of a good.
C. price of a good.
D. number of goods a consumer has.


Answer: A

Economics

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Suppose that a new customer opens a checking account and a saving account, placing $50,000 in each. Later, the bank makes a loan of $100,000 to a business firm. For this bank

A) assets increased by $100,000 because the loan is an asset, and liabilities increased by $100,000 because the checking and saving accounts are liabilities. B) assets increased by $100,000 because the checking and saving accounts are assets, and liabilities increased by $100,000 because the loan is a liability. C) assets increased by $50,000 because the saving account is an asset, while liabilities increased by $50,000 because the checking account is a liability. D) assets remained unchanged but liabilities increased by $100,000 because of the loan.

Economics

State the law of supply and explain it

What will be an ideal response?

Economics

The principle of equal opportunity is an example of:

A. an outcome-oriented notion of equity. B. a process-oriented notion of equity. C. utilitarianism. D. Rawlsianism.

Economics

Which of the following directs open market operations?

a. Board of Governors. b. Federal Reserve Banks. c. Federal Open Market Committee d. Federal Advisory Council. e. Member banks.

Economics