_____ is the change in total utility that occurs because one more unit of a good is consumed or acquired
a. Total utility
b. Marginal utility
c. Disutility
d. Diminishing marginal utility
e. Expected utility
b
Economics
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The larger the value of the marginal propensity to save (MPS)
A) the larger is the value of the marginal propensity to consumption (MPC). B) the smaller is the value of the multiplier. C) the larger is the value of the multiplier. D) the larger is the value of autonomous consumption.
Economics
Exhibit 4-2 Supply and demand curves
The market shown in Exhibit 4-2 is initially in equilibrium at point E3. Union negotiations for workers producing good X result in a wage increase. Other things being equal, which of the following is the new equilibrium after this wage increase is in effect?
A. E1. B. E2. C. E3. D. E4.
Economics