Consumers derive consumer surplus whenever
a. the monetary value of total utility equals total expenditure
b. the monetary value of total utility is greater than total expenditure
c. the monetary value of total utility is less than total expenditure
d. marginal utility is greater than total utility
e. marginal utility is less than total utility
B
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Exchange rate changes are
A) not very volatile because of offsetting changes in demand and supply. B) very volatile because supply and demand changes reinforce each other. C) infrequent because the exchange rate rarely changes. D) not very volatile because of government intervention. E) very volatile because of government intervention in the market.
If the world real interest rate falls, then a country that is an international lender
A) increases the amount of its lending. B) does not change the amount of its lending. C) decreases the amount of its lending. D) None of the above answers is correct because lending might increase, decrease, or not change.