Which of the following are likely to be studied in a microeconomics course?
a. choices made by individual consumers
b. the causes of inflation
c. how the economy's total output is measured
d. how an increase in government spending affects the level of unemployment
a
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Soran is risk averse. If her wealth rises by $100, her total utility increases by 300. If her wealth increases, her total utility will decrease
A) by more than 300. B) by less than 300. C) by 300. D) by some amount that cannot be determined without more information.
The RBV perspective locates the source of competitive advantage for a firm at the
a. Individual firm level b. Industry level c. Customer Level d. None of the above
Assuming MPC is 0.80, what effect, if any, would an increase of $100 billion of U.S. exports have on the U.S. level of national income?
a. No effect since the goods would be consumed abroad b. National income increases by $100 billion c. National income decreases by $100 billion d. National income decreases by $500 billion e. National income increases by $500 billion
Which of the following are benefits associated with the oligopoly model?
A. pricing at marginal cost B. allocative efficiency C. product variety and innovation D. None of the above are benefits associated with the oligopoly model.