Archie has a savings account at a bank. If he earns 6 percent interest on his account and if there is deflation, then his purchasing power rises by more than 6 percent over the course of a year
a. True
b. False
Indicate whether the statement is true or false
True
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As consumption increases, total utility increases
A) at an increasing rate. B) at a decreasing rate. C) at a constant rate. D) and marginal utility increases.
Where a firm generates beneficial externalities, society would be better off if
a. the firm produced a larger output level. b. the firm reduced its output level. c. a tax was levied on the firm equal to the dollar amount of the externalities. d. price was reduced below marginal private cost.
A perfectly price discriminating monopolist charges each buyer:
A. the perfectly competitive equilibrium price. B. exactly his or her reservation price. C. more than his or her reservation price. D. exactly his or her marginal cost.
Refer to the given data. How many workers will this profit-maximizing firm choose to employ?
Use the resource demand data shown on the left and the resource supply data on the right in answering the following question:
A. 6.
B. 5.
C. 4.
D. 3.