If a consumer receives 22 units of marginal utility for consuming the first can of soda, 20 units from consuming the second, and 15 from the third, the total utility of consuming the three units is
A) 57 utils
B) 35 utils.
C) 15 utils.
D) unknown as more information is needed to determine the answer.
Answer: A
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"In the loanable funds market, when there is a shortage of funds, the real interest rate will increase." Explain whether the previous statement is correct or not
What will be an ideal response?
To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries
This policy is called A) export-led growth. B) generalized system of preferences. C) Most Favored Nation. D) reciprocal trade agreement. E) outsourcing.
Why does the aggregate demand (AD) curve slope downward? What could cause the AD curve to shift to the right? What impact would a rightward shift of the AD curve have on the economy?
What will be an ideal response?
A tariff is
A. a voluntary agreement to restrict exports. B. a tax on imported goods. C. a subsidy on domestically produced goods. D. a government-imposed restriction on the quantity of a specific good that can be imported into the country.