The government tries to protect the competitive economic system by passing and enforcing
A) price controls.
B) tariff legislation.
C) antitrust laws.
D) building codes and zoning laws.
C
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Katie finds that the marginal utility from a compact disc is 30 and the marginal utility from a pizza is 10. The price of a compact disc is $15 and the price of a pizza is $10. In order to increase her utility, Katie should
A) consume more compact discs and fewer pizzas. B) consume fewer compact discs and more pizzas. C) not change her consumption of pizza and compact discs. D) consume fewer compact discs and fewer pizzas.
A relatively steep money demand schedule reflects the assumption that the interest elasticity of money demand is
a. low (in absolute value). b. high (in absolute value). c. zero. d. indefinite.
Unemployment taxes are collected from both employees and employers.
A. True B. False C. Uncertain
Which of the following formulas represents the marginal rate of technical substitution of labor for capital?
A. MPK/MPL B. -?L/?K C. ?K/?L D. MPL/MPK