Eating a bag of sweets gives Rory 25 utils of satisfaction. How many additional utils would you expect Rory would get from eating a second bag of sweets?
(a) 25 utils.
(b) Less than 25 utils.
(c) More than 25 utils.
(d) 50 utils.
Answer: (b) Less than 25 utils.
You might also like to view...
Refer to the figure below. In this game, how many dominant strategies does Player B have?
A. 0 B. 4 C. 2 D. 1
If the consumption function is C = 25 + 0.9y and income increases by $100, then savings will increase by
A) $10. B) $25. C) $90. D) $115.
All economic transactions involve only buyers and sellers; no third parties are involved.
Answer the following statement true (T) or false (F)
If a bank purchases government securities rather than lends funds, the:
a. M2 money supply does not rise. b. M2 money supply rises, but not by as much as when the funds are lent. c. M2 money supply rises by more than would be the case if the funds were lent. d. M2 money supply rises by the same amount as if they were lent.