Jerry's Marginal Utility for consuming beer and pizza with $8.00 in income
According to the above table, how much total utility does Jerry get from 3 hotdogs?
A. 30 utils
B. 130 utils
C. 115 utils
D. 85 utils
Answer: C
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The market demand curve in a perfectly competitive industry is downward sloping, while the demand curve faced by an individual perfectly competitive firm is horizontal
a. True b. False Indicate whether the statement is true or false
How would a country offset the effects of reduced government spending (assume fixed exchange rates and low international capital mobility)?
a. The central bank would sell securities in the open market. b. The central bank would buy securities in the open market. c. The central bank would buy domestic currency in the foreign exchange market. d. The central bank would raise the discount rate.
Refer to the accompanying figure, which shows the market for cups of coffee. What might cause a shift from the original demand curve to the new demand curve?
A. An increase in the price of coffee creamer. B. An expectation that coffee prices will fall in the future. C. An increase in consumers' tastes for coffee. D. A decrease in the price of tea.
Three of the four following questions are indicative of the three fundamental economic questions. Leaving out the irrelevant question, rearrange the three relevant questions in the order an economy must answer them. - Should electricity be produced from oil, solar, or nuclear power? - Should corn be produced in the North or in the South? - Who drives a Mercedes? - Should more hybrid cars and fewer SUVs be produced?
A. 1. Should more hybrid cars and fewer SUVs be produced? 2. Should corn be produced in the North or in the South? 3. Should electricity be produced from oil, solar, or nuclear power? B. 1. Who drives a Mercedes? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South? C. 1. Should more hybrid cars and fewer SUVs be produced? 2. Should electricity be produced from oil, solar, or nuclear power? 3. Who drives a Mercedes? D. 1. Should electricity be produced from oil, solar, or nuclear power? 2. Should more hybrid cars and fewer SUVs be produced? 3. Should corn be produced in the North or in the South?