The satisfaction or pleasure one gets from consuming a good or service is called:
A. price.
B. preferences.
C. consumption.
D. utility.
Answer: D
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For main industrial countries such as Japan and the U.S
A) there is much less month-to-month variability of the exchange rate, suggesting that price levels are relatively sticky in the short run. B) there is much more month-to-month variability of the exchange rate, suggesting that price levels are relatively sticky in the short run. C) there is almost the same month-to-month variability of the exchange rate and price levels. D) it is hard to tell whether month-to-month variability of the exchange rate is similar to changes in price levels. E) there is much more month-to-month variability of the exchange rate, suggesting that price levels are relatively sticky in the long run.
The original maturity on U.S. Treasury bills is between
A) three months and six months. B) one and ten years. C) six months and three years. D) ten and thirty years.
Which one of the following statement best describes a price floor?
a. A price floor causes demand to change. b. A price floor causes supply to change. c. A price floor keeps a price from rising above a certain level. d. A price floor keeps a price from falling below a certain level.
Whenever marginal cost exceeds marginal revenue,
a. profit declines if the firm reduces output b. profit increases if the firm increases output c. the firm should shut down d. losses decrease if the firm increases output e. profit declines if the firm increases output