The table above gives the utility from pens and pencils. The marginal utility derived from the third pen is
A) 200.
B) 155.
C) 445.
D) 45.
D
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Which of the following could contribute to cost-push inflation?
a. Greater demand for exports b. Lower income taxes c. An increase in consumption demand d. Higher government spending e. Higher wage demands by trade unions
Say that initially the nominal interest rate is 6% and prices are stable, but the inflation rate the following year rises to 3%. If the real rate of interest is to remain unchanged, the nominal interest rate in the second year must:
a. rise by 9 percentage points. b. rise by 6 percentage points. c. rise by 3 percentage points. d. remain unchanged.
Changes in the GDP deflator reflect
a. only changes in prices. b. only changes in the amounts being produced. c. both changes in prices and changes in the amounts being produced. d. neither changes in prices nor changes in the amounts being produced.
Specialization in production and then trading with other countries
A. Change the mix of output for each country and increase total world output. B. Mean that every citizen in every country is better off. C. Increase the standard of living for rich countries but not for poor countries. D. Change the mix of output for rich countries but not for poor countries.