Which of the following defines marginal utility?
A. The change in total utility divided by the price of a product
B. The maximum amount of satisfaction from consuming a product
C. The total satisfaction derived from a certain amount of the product
D. The additional satisfaction from consuming one more unit of a product
D. The additional satisfaction from consuming one more unit of a product
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A bank has $400 in checkable deposits, $800 in savings deposits, $700 in time deposits, $900 in loans to businesses, $300 in outstanding credit card balances,
$500 in government securities, $10 in currency in its vault, and $20 in deposits at the Fed. The bank's deposits that are part of M1 are equal to A) $1,900. B) $400. C) $1,210. D) $530. E) $410.
Which of the following is most likely to generate a surplus?
A) a price floor B) a price ceiling C) an illegal market D) all of these
Cross elasticity is higher the more perfect two goods are as substitutes
Indicate whether the statement is true or false
Which of the following will cause the money supply to decline?
A) lowering the discount rate B) raising the required reserve ratio C) an open market purchase D) an open market sale E) b and d