When the price of a commodity rises, we can expect
a. marginal utility of the last unit purchased will rise.
b. marginal utility of the last unit purchased will fall.
c. marginal utility of the last unit purchased will be unaffected.
d. purchases to rise because of the increased marginal utility.
a
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________ is a period of falling prices of goods and services in an economy
Fill in the blank(s) with correct word
If the graph shown is displaying a competitive labor market:
A. D would represent the workers' demand for jobs at each wage.
B. S would represent the firm's supply of jobs at each wage.
C. P* would represent the equilibrium wage.
D. Q* would represent the most employment possible for the market.
Which one of the following is an area of continued disagreement among modern macroeconomists with regard to the use of fiscal policy?
a. Automatic stabilizers help reduce the fluctuations in aggregate demand and output. b. It is difficult to time changes in discretionary fiscal policy in a manner that will promote stability. c. Fiscal policy is much less potent than the early Keynesian view implied. d. Budget deficits are a highly effective tool with which to combat a severe recession.
The Balance Sheet lists:
a. Assets, Liabilities, and Owner's Equity b. Gains, Losses, and Net Income c. Operating, Investing, and Financing Activity d. Income, Expenses, and Liabilities