The Denver Broncos is a football team in the NFL, the Colorado Crush was an arena football team, and the Highlands Ranch Falcons is a local High School team
Broncos tickets cost about $415, Crush tickets cost between $30 and $85 and Falcons tickets are $6. What does marginal utility theory predict about the marginal utility per dollar from each of these football games? A) The marginal utility per dollar will be greatest for the Broncos.
B) The marginal utility per dollar will be equal for all games.
C) The marginal utility per dollar will be greatest for the Crush.
D) The marginal utility per dollar will be greatest for the Falcons.
B
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One key implication of rational expectations is that
A) anticipated monetary policy has no effect on the rate of unemployment or the level of real GDP. B) unanticipated monetary policy has no effect on the economy but anticipated monetary policy does have an effect on the economy. C) anticipated monetary policy can affect the rate of unemployment but not the level of real GDP. D) both unanticipated monetary policy and anticipated monetary policy have an effect on the economy.
Disadvantages faced by the South in fighting the Civil War include
a. an inadequate supply of free, military-aged males. b. limited industrial capacity. c. shortages of horses and mules. d. the lack of an effective administrative machinery for tax collection. e. All of the above.
Tony's Taco Truck has an average variable cost of $1.50 and a marginal cost of $2 when it produces 50 units of output (tacos). We can conclude that the average variable cost of producing 51 tacos is a. higher than $1.50
b. lower than $1.50. c. equal to $1.50 d. either higher or lower than $1.50 depending on the direction of the marginal cost curve.
Which statement is true?
A. Scarcity is simply a lack of money. B. The United States' society has been so affluent in the last 50 years that scarcity is only a minor problem. C. The economic problem refers to the problem of poverty. D. If scarcity did not exist there would be no need to economize.