Utility is best defined as
A) the amount one is willing to pay for a good.
B) the price of a good.
C) the satisfaction from consuming a good.
D) the practical usefulness of a good.
C
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The pre-2008 boom affected the Eurozone nations, many of which engaged in:
A) fiscal restraint. B) overconsumption, excessive and wasteful construction, and asset speculation. C) tight monetary policies that resulted in recession. D) wage restraint policies that angered unions.
The immediate-short-run aggregate supply curve is:
A. downsloping. B. upsloping. C. vertical. D. horizontal.
All else equal, U.S. exports to Germany create a:
A. demand for European euros. B. supply of European euros. C. supply of American dollars. D. shortage of European euros.
An assumption on the LRAS curve is
A. an increase in the average price level occurs. B. labor productivity is increasing. C. technology remains unchanged. D. the economy is operating to the right of the production possibilities curve.