The federal funds rate is the
What will be an ideal response?
interest rate on loans between private banks.
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Sergio consumes only beef and snails and is maximizing his utility. If the price of beef is less than the price of snails, then we definitely know that
A) Sergio buys more beef than snails. B) Sergio buys more snails than beef. C) the marginal utility from the last pound of beef purchased is greater than the marginal utility from the last pound of snails purchased. D) the marginal utility from the last pound of snails purchased is greater than the marginal utility from the last pound of beef purchased.
Refer to Figure 5-2. The private profit-maximizing quantity for the firm is
A) Qa. B) Qb - Qd. C) Qb. D) Qd.
Which of the following is an example of bundling?
A) a pair of pants B) a pizza and beer lunch combo C) a bicycle D) All of the above.
Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. 
If the amount of labor used increases from three to four units, the marginal product of the second unit of capital
A. decreases by 49 units. B. increases by 49 units. C. decreases by 14 units. D. increases by 8 units. E. none of the above