The host at a party offers Justin a sixth beer. Justin says, "No thanks, man. The marginal utility of that fifth beer was, like, 20 cents, but the marginal utility of the sixth would be minus 10 cents." If Justin consumes the sixth beer, his total utility will
a. rise by 10 cents.
b. reach a plateau and remain constant.
c. fall by 10 cents.
d. fall below his marginal utility.
c
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Refer to the table below. If these are the only four price options for a pound of sugar, what is the value of A?
The above table provides the possible prices for a pound of sugar next year along with the associated probabilities (in percent).
A) 0.45
B) 1.00
C) 0.10
D) 0.25
Which of the following examples cited in the text was the MOST successful case of infant industry protection?
a. the Chinese auto industry b. the Brazilian computer industry c. Harley-Davidson d. Daimler-Chrysler Corporation
If taxes depend on income, then the magnitude of the government spending multiplier ________ it would be if taxes were a lump-sum amount.
A. is larger than B. is equal to what C. could be either larger than or smaller than D. is smaller than
Which of the following is true?
A. The poverty rate among the elderly is greater than the poverty rate among children. B. The poverty rate among blacks is greater than the poverty rate among whites. C. The poverty rate among Hispanics is less than the poverty rate among whites. D. The poverty rate among men is greater than the poverty rate among women.