Burritos and margaritas are priced at $3 and $5 each, respectively. If the marginal utility of the last burrito is 15 utils, then, in consumer equilibrium, the marginal utility of the last margarita is:

Expected utility is

A) the maximum utility that a person can get from a set of possible outcomes. B) the probability-weighted mean of the utility gained from a set of possible outcomes. C) negative for risk-averse people. D) indeterminant for risk preferring people.

The Monetarist transmission mechanism through which monetary policy affects the price level, real GDP, and employment depends on the:

a. indirect impact of changes on the interest rate. b. indirect impact of changes on profit expectations. c. direct impact of changes in fiscal policy on aggregate demand. d. direct impact of changes in the money supply on aggregate demand.