The table above shows the total utility from the two goods Freddy likes to consume. The marginal utility Freddy receives from consuming an extra bag of Fritos
A) depends on the quantity of fruit drinks consumed.
B) decreases as he consumes more bags of Fritos.
C) decreases as he consumes more fruit drinks.
D) equals 75 when he consumes 2 bags of Fritos.
B
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Periods of low or negative inflation are generally ________ to farmers, who are ________ as a group
A) advantageous, creditors B) advantageous, debtors C) harmful, creditors D) harmful, debtors
Which of the following is the most accurate statement about the Native Americans during the colonial period?
a. There is a strong consensus among historians about the size of the Native American population at the time of arrival of the first European settlers. b. Native Americans rarely formed trading alliances with the European settlers. c. The significant deterioration of the Native American population occurred after 1825, when the US started to expand to the west. d. The susceptibility to disease was one of the primary reasons the Native American population declined.
Using the aggregate supply and demand model, assume the economy is operating along the intermediate portion of the aggregate supply curve. An increase in the money supply will increase the price level and:
a. lower both the interest rate and real GDP. b. raise both the interest rate and real GDP. c. lower the interest rate and raise GDP. d. raise the interest rate and lower real GDP.
If all firms in a perfectly competitive industry are experiencing economic losses, then:
A. some firms will exit the industry, until economic profit equals zero. B. all existing firms will stay in the industry, hoping for better times. C. some firms will exit the industry, until accounting profit equals zero. D. some firms will exit the industry, until economic profit is positive.