Refer to the following graph.
The marginal utility curve associated with this total utility curve is:
A. a flat line with a slope of zero.
B. a downward-sloping curve.
C. an upward-sloping curve.
D. indeterminate.
Answer: C
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If x increases whenever y decreases, then x and y are
A) not related. B) positively related. C) directly related. D) negatively related. E) related but whether positively or negatively related depends on whether the x variable or the y variable is plotted on the vertical axis.
What happens to economic growth and unemployment during a business cycle recession? What is the relationship between the money growth rate and a business cycle recession?
What will be an ideal response?
Marianne and Laura are both homemakers with children. When Laura starts to work as an unpaid volunteer at a hospital, she hires Marianne to care for her young child. In this context, the gross domestic product (GDP) will _____
a. increase b. decrease c. remain unaffected d. increase if Marianne cares for the child better than Laura e. increase if Laura treats patients with more sincerity than the other volunteers
The velocity of money is:
a. money supply divided by prices. b. spending divided by output. c. required monetary reserves divided by income. d. GDP divided by the money supply.