Refer to the accompanying table. The total utility of consuming two dinners out per week is:Number of DinnersOut Per WeekTotal UtilityMarginal Utility1100 2 753235 4250
A. 75.
B. 160.
C. less than 100.
D. 175.
Answer: D
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A. constrained by the availability of inputs. B. less than if it were a perfectly competitive market. C. the amount demanders are willing to buy at that price. D. the amount he alone can supply the market with.
The following graph shows the supply of movie downloads. What is the market quantity that would be supplied at a price of $2.00?
A. 3 movies per week B. 7 movies per week C. 4 movies per week D. 2 movies per week
According to Adam Smith, individuals are directed to do those things for which they have a comparative advantage by:
A. corporate management. B. the educational system. C. their self-interest. D. government policy.
A White House proposal to increase infrastructure spending on roads, rail lines and runways is an example of
A) expansionary fiscal policy. B) insourcing policies. C) automatic stabilization. D) contractionary fiscal policy.