Zachary spends his day studying for a total of four hours and exercising for one hour. Using the concept of utility to explain his choices, we can say
A. the total utility gained from exercising for one hour is greater than the total utility from studying for four hours.
B. the marginal utility of exercising for the first hour was greater than the marginal utility of studying for the first hour.
C. the marginal utility of studying for a fifth hour will be negative.
D. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise.
D. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise.
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In the short run, an extremely large budget deficit run by a government can: a. shift the aggregate demand curve to the right and cause deflation
b. shift the aggregate demand curve to the left and cause unemployment. c. shift the aggregate demand curve to the right and cause severe inflation. d. shift the aggregate demand curve to the left and cause underemployment.
Which of the following explains why soccer players make millions of dollars in Europe but do not in the United States?
a. discriminatory rules established by the government b. compensating wage differentials for living in Europe c. discriminatory preferences on the part of US sports fans for other sports d. efficiency wages paid to European players to enhance on-field performance