If Rick Nicotera maximizes his utility from a given income, the
a. marginal utility for every good he purchased would be the same
b. marginal utility per dollar for all goods he purchased would be the same
c. marginal utility per dollar for all goods he purchased would be at a maximum
d. total expenditure he made on each good would be the same
e. number of units of each good he consumes would be the same
B
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When a good is subsidized by the government, the amount of the good produced or consumed declines
a. True b. False Indicate whether the statement is true or false
Do policy makers know the level of unemployment that is associated with "full employment"?
a. Yes, economists have the precise level of unemployment that is full employment. b. Yes, although there is a small range of uncertainty in this measure. c. No, economists have no idea what this level of unemployment is. d. No, this number is not known with complete accuracy.