Utility analysis helps economists understand
A) how people make decisions about what they buy and how much.
B) how to eliminate opportunity costs.
C) how to eliminate scarcity.
D) none of the above.
Answer: A
Economics
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Below are pairs of GDP growth rates and unemployment rates. Economists would not be shocked to see most of these pairs in the U.S. Which pair of GDP growth rates and unemployment rates is not realistic?
a) 10 percent; 5 percent b) -1 percent; 8 percent c) 3 percent; 6 percent d) -2 percent; 2 percent
Economics
With no price discrimination,
a. A firm sells every unit at different prices b. A firm sells every unit at same prices c. Low-value group pay a lower price than the high-value group d. Low-value group pay a higher price than the high-value group
Economics