Which statement is TRUE about Mr. McConaughey's marginal utility from spending time with family and friends and breaking a sweat?
A) The marginal utility Mr. McConaughey gets from the first hour of spending time with his family is less than the marginal utility from the first hour of breaking a sweat.
B) The marginal utility Mr. McConaughey gets from the third hour of spending time with his family is less than the marginal utility from the fourth hour of breaking a sweat.
C) The marginal utility Mr. McConaughey gets from the fourth hour of spending time with his family is greater than the marginal utility from the fourth hour of breaking a sweat.
D) The marginal utility Mr. McConaughey gets from the second hour of spending time with his family is greater than the marginal utility from the first hour of breaking a sweat.
A
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The government has a monopoly on legitimate force
a. True b. False
The "duplication laws," passed by Parliament in the late 17th and 18th centuries, restricted colonial export of
a. woolen goods. b. tobacco. c. pig iron. d. cotton. e. All of the above.
The classical economists felt that wages and prices were flexible in
A) neither the upward direction nor the downward direction. B) the upward direction but not in the downward direction. C) the downward direction but not in the upward direction. D) both the upward and downward directions.
Monetary policy will be ineffective if
A. Investors have favorable expectations for future sales. B. Interest rates are sensitive to the quantity of money supplied, and investment spending is sensitive to changes in the interest rate. C. The demand for money is very sensitive to changes in the interest rate, but the investment demand is not. D. The demand for money and investment demand are both very sensitive to changes in the interest rate.