Productivity growth tends to affect all industries to the same degree.
Answer the following statement true (T) or false (F)
False
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Consider the utility function 
. (Explain all your answers.)
a. Derive the function for the marginal rate of substitution.
b. Do the tastes represented by this utility function satisfy diminishing MRS?
c. The marginal utility of a good is defined as the change in utility from additional consumption of that good (holding all else constant). Derive the marginal utility of 
and 
.
d. Why does an ordinal approach to utility theory not any attention to what you derived in (c)?
e. Why does an ordinal approach to utility not treat the marginal rate of substitution the way it treats the marginal utility concept?
What will be an ideal response?
In recent years, established U.S. stock exchanges have faced significant competition from
A. new start-ups. B. small, regional stock markets. C. foreign stock markets. D. people buying and selling stocks online
In calculating total spending, after adding together Consumption, Investment, and Government Purchases, we must
a. add imports and subtract exports b. add exports and subtract imports c. compute net consumption and net investment by subtracting products produced abroad d. compute net consumption and net investment by adding products produced abroad e. compute net consumption and net investment by add products consumed abroad
If a price ceiling is set below the equilibrium market price, a shortage will occur
Indicate whether the statement is true or false