The analysis of consumer decision making based on utility maximization is known as
A) specialization analysis.
B) consumption analysis.
C) utility analysis.
D) market analysis.
Answer: C
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A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Based on the HRV growth diagnostic framework and the case study in Box 4.2, what are the binding constraints faced by Brazil, El Salvador and the Dominican Republic and how can these constraints be overcome?
What will be an ideal response?
When 5 units of labor are employed, total product is 9 units; when 6 units of labor are employed, total product is 11 units of output. If the price of output is $5 per unit, what is the marginal revenue product of the 6th unit of labor?
A) $10 B) $5 C) $15 D) $55
During the expansion phase of the business cycle, we would normally expect to see real income ____, price level ____, and unemployment rate ____.
a. increasing; increasing; increasing b. increasing; decreasing; decreasing c. increasing; increasing; decreasing d. falling; increasing; increasing