The marginal utility for a good is computed as
A. Total utility divided by quantity.
B. Quantity divided by total utility.
C. The change in total utility divided by the change in quantity.
D. The change in quantity divided by total utility.
Answer: C
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If the required reserve ratio is 5 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the M1 money multiplier is
A) 2.5. B) 2.72. C) 2.3. D) 0.551.
Joe works in a factory producing chemicals used in paint manufacturing. If he is concerned about the effects of the chemicals that he works with on his health, he should contact which regulatory agency?
A. Securities and Exchange Commission (SEC) B. Environmental Protection Agency (EPA) C. Food and Drug Administration (FDA) D. Occupational Safety and Health Administration (OSHA)
Refer to the information provided in Figure 23.2 below to answer the question(s) that follow.
Figure 23.2Refer to Figure 23.2. An increase in Jerry's income is represented by
A. a movement from Point B to A. B. an increase in the slope of Jerry's consumption function. C. an upward shift in Jerry's consumption function. D. none of the above.
Mergers often increase profit by
A) producing economies of scale. B) producing economies of scope. C) increasing efficiency of the firm. D) All of the above.