The utility we get from something:
A. is a measurement of our direct benefit of consuming the good.
B. is a measurement of the benefit of consuming the good relative to the opportunity cost.
C. is a measurement of outside perceptions and inner preferences.
D. is a measurement of outside benefits and inner costs.
C. is a measurement of outside perceptions and inner preferences.
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The expenditure approach to calculating GDP for an open economy entails adding consumption, investment, and government purchases
Indicate whether the statement is true or false
As the expected future spot rate moves closer to the spot rate, uncovered interest parity indicates that:
a. interest rates should remain constant. b. interest rates should converge. c. interest rates should diverge. d. The answer depends on whether the expected future spot rate is higher or lower than the spot rate.
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in quantity demanded are represented by a movement from:
A. point a to point b. B. point a to point c. C. point d to point b. D. point c to point d.
The increase in total cost resulting from producing one more unit of output is the marginal cost.
Answer the following statement true (T) or false (F)