If the total utility from consuming the fifth unit of a product is 6 and the total utility from all five units is 162, then the total utility from consuming four units must be:
A. 168
B. 27
C. 156
D. 972
C. 156
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In an exogenous growth model, growth is caused by
A) capital accumulation. B) government policies. C) human capital accumulation. D) forces that are not explained by the model itself.
Holding money to meet unplanned expenditures and emergencies is known as
A) transactions demand. B) precautionary demand. C) asset demand. D) aggregate demand.
In the long run, if imports increase, then exports
A) will not change. B) will decrease. C) will also increase. D) will become zero.
Countries that pursued outward-oriented policies in the 20th century
a. experienced lower rates of economic growth than did countries that pursued inward-oriented policies. b. experienced higher levels of political instability than did countries that pursued inward-oriented policies. c. include Singapore, South Korea, and Taiwan. d. All of the above are correct.