When marginal utility is positive and increasing, then
a. total utility must be negative.
b. total utility must be increasing at an increasing rate.
c. total utility must be increasing at a decreasing rate.
d. total utility is decreasing.
e. total utility is at its maximum point.
b
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A temporary increase in the price of oil would
A) increase both short-run and long-run aggregate supply. B) decrease both short-run and long-run aggregate supply. C) increase short-run aggregate supply and decrease long-run aggregate supply. D) decrease short-run aggregate supply and leave long-run aggregate supply unchanged.
The Dow reached a peak of over 11,000 before the collapse of the ________ bubble in 2000
A) housing B) manufacturing C) high-tech D) banking
A share of stock expected to pay an annual dividend of $12 forever has a market price of __________ when the Treasury bond rate is 6.5% and the stock has a risk premium of 4.5%
A) $109.09 B) $184.62 C) $266.67 D) $600
Conducting expansionary monetary policy when the economy is at its long-run equilibrium causes the Phillips Curve to:
A. shift straight down. B. become less steep. C. shift straight up. D. become more steep.