The expression "getting the most bang for your buck" is an illustration of the
A) total utility/price ratio.
B) total utility/marginal utility ratio.
C) marginal utility/price ratio.
D) marginal utility/total utility ratio.
Answer: C
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A characteristic of stock prices is that ________
A) they tend to go up on the upswing of the cycle B) they tend to go down on the downswing of the cycle C) they are a leading indicator D) all of the above E) none of the above
To achieve a $500 billion decrease in AD, if the MPC is 0.8, what decrease in government purchases would be called for?
a. $100 billion b. $400 billion c. $500 billion d. $625 billion
Which statement about Temporary Assistance for Needy Families (TANF) is true?
a. States receiving TANF grants must impose work requirements on recipients. b. Each state gives the federal government a fixed amount of money for TANF. c. The federal government decides how each state will spend TANF grants. d. TANF benefits to poor families are the same amount in every state.
Refer to Figure 4-4. The figure above represents the market for iced tea. Assume that this is a competitive market. Which of the following is true?
A) Both 10,000 and 30,000 are economically inefficient rates of output.
B) If the price of iced tea is $3, consumers will purchase more than the economically efficient output.
C) If the price of iced tea is $3, the output will be economically efficient but there will be a deadweight loss.
D) If the price of iced tea is $3, producers will sell 30,000 units of iced tea but this output will be economically inefficient.