Total utility can be thought of as the
A. total satisfaction derived from a bundle of goods.
B. minimum amount of money a consumer is willing to spend on a bundle of goods.
C. additional satisfaction a consumer receives from the marginal unit of a good.
D. willingness to pay for the marginal unit of a good.
Answer: A
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In the absence of a Ricardo-Barro effect, a government budget deficit ________ the demand for loanable funds, ________ the real interest rate, and ________ investment
A) increases; increases; crowds out B) increases; decreases; increases C) decreases; increases; increases D) decreases; increases; crowds out
In analyzing international trade, we often focus on a country whose economy is small relative to the rest of the world. We do so
a. because it is impossible to analyze the gains and losses from international trade without making this assumption. b. because then we can assume that world prices of goods are unaffected by that country's participation in international trade. c. in order to rule out the possibility of tariffs or quotas. d. All of the above are correct.
Give a hypothetical example of a company that uses physical differences, prestige, location, and service to differentiate its product.
What will be an ideal response?
The slope of the saving function is the
A. APS. B. MPS. C. MPC. D. APC.