If total utility from consuming two cups of coffee is 20 utils, and if the total utility from consuming three cups of coffee is 25 utils, then which of the following is the marginal utility of the third cup of coffee?
a. 0
b. 5.
c. 10.
d. 20.
e. 25.
b
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The average person spends _________ of waking hours in some form of communication
a. 10 b. 20 c. 70 d. 90
A quota decreases the volume of imports, whereas a tariff typically has no impact on the volume of imports
a. True b. False
Which statement is true?
A. OPEC produces and exports over 90 percent of the world's oil. B. Saudi Arabia is the most important member of OPEC. C. OPEC has no influence over the price of oil. D. The U.S. imports only a tiny fraction of the oil it uses.
If a country has a trade deficit of $50 billion, which of the following can be true?
A. The country's exports are $110 billion, and its imports are $160 billion. B. The country's exports are $150 billion, and its imports are $100 billion. C. The country's exports are $150 billion, and its imports are $60 billion. D. The country's exports are $100 billion, and its imports are $50 billion.