When Jack consumes the first bottle of water, his utility increases by 20 utils. The second bottle of water increases his utility by 18 utils, and the third bottle of water increases his utility by 15 utils. This implies that the marginal utility of the second bottle of water is _____
a. 15 utils
b. 18 utils
c. 20 utils
d. 24 utils
b
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The expenditure multiplier is equal to the change in ________ divided by the change in ________
A) dependent expenditure; autonomous expenditure B) autonomous expenditure; equilibrium expenditure C) the price level; real GDP D) equilibrium expenditure; autonomous expenditure E) real GDP; equilibrium expenditure
If the data show that periods of high economic growth rate accompanied by high inflation rates, then changes in aggregate demand are the primary source of economic fluctuations
a. True b. False Indicate whether the statement is true or false
Suppose that some people report themselves as unemployed when, in fact, they are working in the underground economy. If these persons were counted as employed, then
a. both the unemployment rate and labor-force participation rate would be higher. b. both the unemployment rate and labor-force participation rate would be lower. c. the unemployment rate would be higher, and the labor-force participation rate would be higher. d. the unemployment rate would be lower, and the labor-force participation rate would be unaffected.
Will and Grace have adjoining unfenced back yards and each has just adopted a new puppy. Will values a fence between their yards at $250 and Grace values a fence between their yards at $200. The cost of building the fence is $300, which will be split equally if they both agree to build the fence. Therefore, their payoff matrix is as follows. 
Will's dominant strategy in this game is to:
A. not build the fence. B. help build the fence if he sees Grace building the fence. C. build the fence. D. alternate between building the fence and not building the fence.