Refer to Figure 6-10. A unit-elastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
C
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Because of diminishing marginal utility, you
A. should never buy more than one unit of a good, since additional units decrease your total utility. B. have to consider the effect of additional units on your total utility when you make purchases. C. wind up paying for units that you receive no benefit from. D. always want to increase your consumption of a good until the marginal utility you get is zero.
Which of the following does NOT contribute to the choice of a policy of hyperinflation?
A) war B) increased price of energy paid to foreigners C) price of export commodities increase D) diminished ability to collect taxes
If ABC Corp is profitable,
a. it must pay dividends to its stockholders b. pretax profits are either paid as dividends or reinvested in the corporation c. after-tax profits are either paid as dividends or reinvested in the corporation d. it is contractually obligated to retain a portion of its earnings e. it typically uses the profits to buy back its own stock from the underwriter
Deflation
a. reflects falling price levels b. was prevalent during the oil shocks of the 1970s c. under the current trends will cause consumers' purchasing power to shrink d. has been persistent in the U.S. economy since the Great Depression e. is the same as stagflation