If Vito decides to work 30 hours instead, his marginal utility loss from having less leisure will be 34.

In the circular flow model, the factor markets are the markets in which

A) consumption goods and services are bought and sold. B) government goods and services are provided. C) land, labor, capital, and entrepreneurship are bought and sold. D) investment goods and services are bought and sold. E) governments impose all their taxes.

Here is a consumption function: C = C0 + MPC(Yd). If MPC is 0.95, then we know that

A) as Yd rises by $1, Co rises by $0.95. B) as Yd rises by $1, C rises by $0.95. C) Yd rises by $0.95. D) as C0 rises by $0.05, Yd rises by $1.