Refer to the figure above. Which indifference curve depicts the highest level of utility?
A) IC1
B) IC2
C) IC3
D) IC4
D
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The market value of downtown real estate is most basically determined by the
A) assessment of the taxing authorities. B) market value of the building already on a particular plot of land. C) use to which it is currently being put. D) uses to which people would like to put it if given a chance. E) whatever it costs to convert the land to its next best use.
If the marginal propensity to consume (MPC) is 0.75, a $50 decrease in government spending, other things being equal, would cause equilibrium real GDP to:
a. increase by $50. b. decrease by $50. c. increase by $200. d. decrease by $200.
In finance, leverage:
A. multiplies the effect of gains and losses in financial markets. B. is using borrowed money to pay for investments. C. helps explain why a crash is so damaging after a bubble bursts. D. All of these statements are true.
The Clear Plastic Company's plant discharges large quantities of toxic chemicals into some groundwater sources. Residents in the surrounding area have higher medical bills because of Clear Plastic's pollution. These additional medical costs represent
A. the company's private costs. B. the neighboring families' external costs. C. a positive externality. D. a negative externality.