A representative unit by which utility is measured is
A) a util.
B) utility.
C) marginal utility.
D) ordinal utility.
Answer: A
Economics
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John likes to buy cola every month. He prefers to spend $0.10 per can, but is willing to spend as much as $0.15 per can. Usually, a can of cola costs $0.12 . However, due to decreased demand, the price has dropped to $0.11 per can, increasing John's purchasing power. This is an example of the _____
a. income effect b. substitution effect c. accelerator effect d. wealth effect
Economics
The market prices of existing bonds are
A. not related to the interest rate. B. inversely related to the interest rate. C. stated in terms of the interest rate. D. directly related to the interest rate.
Economics