Marginal utility is the extra utility a consumer derives from consuming an extra unit of a good
a. True
b. False
A
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Which of the following is not a typical goal of bureaucrats?
a. increasing the size of their bureaus b. gaining prestige c. increasing the size of their staffs d. increasing their bureaus' budgets e. achieving greater efficiency
Which of the following groups would most likely to benefit from inflation?
a. borrowers b. lenders c. creditors d. pensioners
Which of the following examples shows a firm that probably has a monopoly?
a. Birchfield, Inc. exits its market after many other firms enter it. b. After five years, Samson, Inc’s marginal revenue equals its marginal cost. c. BRV, Inc.’s economic profits gradually decline over six years until they reach zero. d. Mongul, Inc. makes large profits for ten years.
The face value of a bond is the amount that will be paid to the holder of the bond when it matures.
a. true b. false