Federal Reserve actions that offset unexpected monetary developments and contribute to the smooth everyday functioning of the economy are called
A. defensive actions.
B. dynamic actions.
C. accommodative actions.
D. automatic actions.
Answer: A. defensive actions.
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Assume MUc and MUd represent the marginal utilities that Alyssa receives from the consumption of products C and D, respectively. Given a fixed budget, Alyssa could increase her total utility by spending more on C and less on D if initially
A. 
> 
B. MUd > MUc
C. MUd < MUc
D. 
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In the above table, the average total cost of producing 14 units of output is
A) $5.71. B) $6.75. C) $7.00. D) $7.86.
Why will a profit-maximizing, single-price monopolist NOT produce the amount of output that maximizes its total revenue?
What will be an ideal response?
A Pareto preferred transaction is one where
A. the loser in a transaction loses less than the gainer gains. B. the consumers must have moved to the contract curve. C. all must gain welfare compared with the pre-transaction position. D. no one loses and at least one person gains in the transaction.