?"I don't feel so good; I shouldn't have had that last doughnut." Which of the following supports this statement?
a. ?The marginal utility of doughnuts is still increasing.
b. ?The total utility from eating doughnuts is negative.
c. ?The marginal utility of the last doughnut was positive.
d. ?The marginal utility of the next doughnut will be positive.
e. ?The marginal utility of the last doughnut was negative.
Answer: e. ?The marginal utility of the last doughnut was negative.
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If it costs Con Ed approximately $20 per additional ton of air pollution abated, but it costs PG&E only $10 per additional ton of air pollution abated, a marketable pollution permit trading for $14 per ton could
A. earn PG&E $6 per ton and save Con Ed $4 per ton. B. save PG&E $6 per ton and earn Con Ed $4 per ton. C. save PG&E $4 per ton and earn Con Ed $6 per ton. D. earn PG&E $4 per ton and save Con Ed $6 per ton.
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Decisions by ________ about their holdings of currency and by ________ about their holdings of excess reserves affect the money supply
A) borrowers; depositors B) banks; depositors C) depositors; borrowers D) depositors; banks
Behavioral economists have found that people ______________, and this leads to irrational decisions.
A. often forget money is fungible B. often undervalue opportunity costs C. often forget to ignore sunk costs D. All of these statements are correct.