Refer to the above table. The marginal utility of the 7th movie for Michael is
A. 15 units of utility.
B. 35 units of utility.
C. 20 units of utility.
D. 435 units of utility.
Answer: A
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If the incentive to take advantage of a conflict of interest is high
A) removing the economies of scope that created the conflict may induce higher costs because of the decrease in the flow of reliable information. B) then the government must step in to remove the conflict. C) the costs of non-action in removing the conflict will always be higher than the cost of removing the conflict. D) firms will always step in and work to remove the conflict.
With respect to the market clearing price and the equilibrium quantity for good X, an increase in the demand for and a decrease in supply of the good definitely will
A) increase the market clearing price and the equilibrium quantity of good X. B) decrease the market clearing price and the equilibrium quantity of good X. C) increase the market clearing price of good X but lower the equilibrium quantity of X. D) increase the market clearing price of good X but have an uncertain impact on the equilibrium quantity of X.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Which of the following Gini coefficients represents the income distribution closest to being equal?
A. 0.02 B. 0.50 C. 0.10 D. 0.98