Utility refers to the:
a. relationship of demand to the supply of a product.
b. satisfaction a consumer experiences after a good or service is purchased.
c. satisfaction a consumer expects to receive from a good or service.
d. ability of a good or a service to have value in the marketplace.
e. usefulness of the product consumed.
c
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The contemporary consensus with regard to stabilization policy is that
a. fiscal policy is, for now, the "only game in town." b. fiscal policy is more effective than monetary policy. c. monetary policy is, for now, the "only game in town." d. monetary policy is slightly more effective than fiscal policy.
If M1 is $1,200 billion, currency held outside banks is $400 billion, and traveler's checks is $10 billion, then small-denomination time deposits equal
A) $790 billion. B) $390 billion. C) $800 billion. D) $1,190 billion. E) There is not information to answer the question.