The marginal utility of a unit of good X
A. is always greater than the total utility of X.
B. is always less than the average utility of X.
C. generally depends on how much X the consumer already has.
D. is always equal to the price of X.
Answer: C
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Structural stagnation cannot be treated as a normal business cycle because it:
A. is far less responsive to typical demand-side policies. B. is far less responsive to supply-side policies. C. only occurs as result of hyperinflation. D. only happens once every 30 years.
A tariff has the effect of:
A. raising the price of the imported product. B. increasing the demand for the exported product. C. increasing the demand for the imported product. D. increasing the supply of the imported product.
One of the largest challenges with foreign aid today is:
A. severely diminishes some nations' ability to help their own citizens. B. raising enough of it to have any significant impact on the market. C. countries' overreliance on it removing incentives to better themselves. D. finding ways to ensure it is going to the best uses possible.
What effect does a contractionary monetary policy in the U.S. have on the foreign trade sector?
A. The lower value of the dollar will decrease imports and increase exports. B. The higher value of the dollar will decrease imports and increase exports. C. The higher value of the dollar will decrease exports and increase imports. D. The lower value of the dollar will decrease exports and increase imports.