During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. Your total utility ________ with the first three pies you ate.
A. first increased than decreased
B. decreased
C. stayed the same
D. increased
Answer: D
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Refer to the scenario above. What is the change in total revenue due to the price change?
A) The total revenue increases by $350. B) The total revenue increases by $3,400. C) The total revenue decreases by $1,650. D) The total revenue decreases by $2,275.
Which of the following changes will cause a downward movement along the money demand curve?
a. An increase in the interest rate b. A decrease in the interest rate c. A decrease in real GDP d. An increase in real GDP e. An increase in the price level
The accompanying figure shows a a single consumer's demand for ice cream at the student union.
During the summer, there are 300 students on campus. Each student's weekly demand for ice cream is shown above. When the price of ice cream is $2.00 per scoop, those 300 students purchase a total of ________ scoops per week from the student union.
A. 3,000 B. 1,500 C. 1,800 D. 1,200
US 30yr fixed mortgage rates are averaging less than 4% annual interest rates (for those with good credit)
a. true b. false