As a rule, the more of a commodity a consumer acquires, the smaller will be her total utility from that good
a. True
b. False
Indicate whether the statement is true or false
False
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Reserves are equal to the sum of
A) required reserves and excess reserves. B) required reserves and vault cash reserves. C) excess reserves and vault cash reserves. D) vault cash reserves and total reserves.
More bidders would tend to increase the selling price at an oral auction if
a. bidders bid less aggressively b. the true value of the winner is higher c. the true values of the losers is higher d. Both A&C
If the price of vanilla ice cream decreases, it is likely that
a. demand for vanilla ice cream will increase b. demand for vanilla ice cream will decrease c. demand for chocolate ice cream will increase d. demand for chocolate ice cream will decrease e. the quantity demanded of vanilla ice cream will decrease
Which of the following will cause a decrease in aggregate demand?
a. Relative price increase of U.S. goods b. Relative price decrease of U.S. goods c. Decrease in taxes d. Increase in income