If you bought eight pairs of shoes, the marginal utility of the seventh pair was
A. greater than the price.
B. equal to the price.
C. less than the price.
A. greater than the price.
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When the marginal product of an additional worker is less than the marginal product of the previous worker, there are ________ returns to labor
A) increasing total B) decreasing total C) increasing marginal D) decreasing marginal E) constant average
If the price of a candy bar is $1 and the price of a fast food meal is $5, then the
A) relative price of a candy bar is 5 fast food meals per candy bar. B) money price of a candy bar is 1/5 of a fast food meal per candy bar. C) relative price of a fast food meal is 5 candy bars per fast food meal. D) money price of a fast food meal is 1/5 of a candy bar per fast food meal.
What is an isoquant?
What will be an ideal response?
Assuming a required reserve ratio of 10% and the Fed purchased $1 million worth of mortgage-backed securities, make use of the simple deposit multiplier to determine how much checking deposits would change
A) increase by $1 million B) increase by $10 million C) decrease by $1 million D) decrease by $10 million