The amount of added utility that an individual derives from consuming one more unit of a good or service is called:
a. total utility

In the quantity equation framework for understanding the determinants of long-run inflation, a rise in government spending ________ velocity, putting ________ pressure on inflation

A) raises, upward B) raises, downward C) lowers, upward D) lowers, downward

Suppose Ford, GM, and Dodge make the majority of pick-up trucks sold in the United States If they all sell for approximately the same price, and Ford offers a $2,000 rebate on new truck sales, what can Ford expect to see?

a. an unprecedented increase in truck sales b. an immediate response by GM and Dodge c. a visit from the antitrust authorities of the government d. a revolution from Ford stockholders e. announcements by GM and Dodge that plans are underway to produce a much cheaper pick-up truck in six years