The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. What is the marginal utility per dollar from magazines when the sixth magazine is purchased?
A) 36 units
B) 15 units
C) 9 units
D) 5 units
C
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The consumer price index (CPI) is a measure of inflation for
A) farmers. B) an elderly couple recently retired to Yuma, Arizona. C) Apple Computer. D) a typical consumer of the market basket used to calculate the index.
Which of the following would shift the aggregate expenditure line upward?
a. an increase in labor supply b. a decrease in labor demand c. a decrease in government spending d. a decrease in net exports e. an increase in autonomous consumption spending
The new Keynesian sticky-price theory indicates that an increase in aggregate demand generates
A. rapid increases in both real Gross Domestic Product (GDP) and the price level. B. sluggish increases in both real Gross Domestic Product (GDP) and the price level. C. a speedy rise in the price level but a sluggish increase in real Gross Domestic Product (GDP). D. a speedy rise in real Gross Domestic Product (GDP) but a sluggish increase in the price level.
Which of the following is not a topic of macroeconomics?
A. What factors contribute to the presence of monopolies in the economy. B. Why unemployment periodically reaches very high levels. C. What causes inflation and what can be done about it. D. Why nations have different rates of growth.