Refer to the above table. Amy's utility schedule shows
A. initially decreasing marginal utility and then increasing marginal utility.
B. diminishing marginal utility throughout her entire schedule.
C. increasing marginal utility throughout her entire schedule.
D. initially increasing marginal utility and then decreasing marginal utility.
Answer: B
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Last year the price level increased from 118 to 122. The increase in the price level leads to a decrease in
A) potential GDP. B) the money wage rate. C) the buying power of money. D) the real interest rate. E) the price of domestic goods and services relative to foreign goods and services.
Computers are a complement to computer software. Suppose the price of a computer falls. Simultaneously, suppose that the number of companies selling computer software decreases
How do these changes affect the price and quantity of computer software?