According to the graph shown, if the market price decreases (all else staying the same):
A. producer surplus would increase.
B. producer surplus would decrease.
C. total surplus would increase.
D. quantity would increase.
B. producer surplus would decrease.
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Marginal utility is
A) the decrease in total utility from consuming more and more units of a good or service. B) the change in total utility a person receives from consuming an additional unit of a good or service. C) the change in total utility divided by the price of the last unit of a good or service consumed. D) the utility from consuming a given quantity of a good or service.
The exchange rate states the price, in terms of one currency at which another currency can be bought.
Answer the following statement true (T) or false (F)
Hyperinflation refers to a situation in which:
a. prices are rising extremely rapidly. b. prices are falling extremely rapidly. c. the price level is extremely high. d. the price level is extremely low.
The primary objective of the ECB is to:
A) promote economic growth. B) promote full employment. C) foster an equitable distribution of income. D) maintain price stability.