Zachary spends his day studying for a total of four hours and exercising for one hour. Using the concept of utility to explain his choices, we can say
A. the total utility gained from exercising for one hour is greater than the total utility from studying for four hours.
B. the marginal utility of exercising for the first hour was greater than the marginal utility of studying for the first hour.
C. the marginal utility of studying for a fifth hour will be negative.
D. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise.
D. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise.
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Age is a determinant of income because
A) with age typically come experience, education, and training that can increase income. B) age contributes to costs as medical expenses increase. C) older workers have accumulated more wealth. D) older workers have accumulated less wealth.
Assume that the central bank sells government securities in the open market. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and the nominal value of the domestic currency in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. The real risk-free interest rate rises and nominal value of the domestic currency falls. b. The real risk-free interest rate falls and nominal value of the domestic currency falls. c. The real risk-free interest rate and nominal value of the domestic currency remain the same. d. The real risk-free interest rate rises and nominal value of the domestic currency rises. e. There is not enough information to determine what happens to these two macroeconomic variables.
Refer to the graph shown, which depicts a perfectly competitive firm. To maximize profit, the firm represented will produce:
A. 40 units of output. B. 90 units of output. C. 130 units of output. D. 110 units of output.
The gap that exists when equilibrium real Gross Domestic Product (GDP) is greater than full employment real Gross Domestic Product (GDP) is called a(n)
A) employment gap. B) inflationary gap. C) recessionary gap. D) demand gap.