Developing numerical value for utility allows us to:
a. evaluate a consumer's purchasing power.
b. be more specific about the utility of consumption.
c. be more specific about consumer demand.
d. evaluate the quality of a commodity.
b
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The ________ real GDP, the ________
A) larger; larger the demand for money B) larger; smaller the demand for money C) larger; larger the supply of money D) smaller; larger the demand for money E) larger; smaller the supply of money
A movement from one point of a demand curve to another is properly called a change in
A) demand. B) quantity demanded. C) tastes and preferences. D) the availability of substitutes.
Nonrivalry is a feature of
A) goods but not services. B) all nonexcludable goods. C) excludable goods. D) public goods.
Which of the following methods was NOT used to help the North finance the Civil War (1861–1865)?
(a) Selling large amounts of bonds (b) Issuing fiat Federal paper money (c) Raising taxes (d) Selling confiscated property