Marginal utility is the
a. overall satisfaction obtained from consuming a good
b. additional satisfaction obtained from consuming one more unit of a good
c. average satisfaction obtained from consuming a good
d. the change in satisfaction obtained from consuming 1 percent more of a good
e. additional cost of one more unit of a good
B
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According to this Application, economists have found that the fiscal multiplier is ________ during slack times
A) sometimes larger B) always larger C) always smaller D) none of the above
In the figure above, the marginal cost of the second computer is
A) 2 television sets per computer. B) 3 television sets per computer. C) 5 television sets per computer. D) 30 television sets per computer.
When the price of a good rises, consumers buy a smaller quantity because of the ________ effect and the ________ effect
A) substitute; complement B) substitution; income C) normal; inferior D) supply; demand
Command-and-control regulations
A. are less flexible than incentive based regulations. B. come from the private sector. C. have technology standards a type of control. D. are less flexible than incentive based regulations and have technology standards a type of control. E. are less flexible than incentive based regulations and come from the private sector.