The satisfaction or happiness one gets from consuming a good or service is called
A. profits.
B. utility.
C. income.
D. price.
Answer: B
You might also like to view...
Use the following graph, which shows the supply and demand for British pounds, to answer the next question.
D1 and S1 represent the initial demand and supply curves. If there is a huge increase in the desire of U.S. buyers to consume British products, and the British government starts buying U.S. dollars in order to fix the exchange rate at the initial level, then the new equilibrium will be found at ________.
A. Point H B. Point C C. Point F D. Point J
Consider the PPF for office buildings and housing shown in the figure above. Which point in the diagram shows that resources to produce office buildings and housing are being misallocated, unused, or both?
A) point F B) point G C) point H D) point I
In terms of yields on savings, which of the following is the highest performer?
A. Defined benefit pension programs B. Ponzi schemes C. Social Security D. Defined contribution programs
If the wage rate is fixed, MLC > wage
Indicate whether the statement is true or false