Developing numerical value for utility allows us to:
a. evaluate a consumer's purchasing power.
b. be more specific about the utility of consumption.
c. be more specific about consumer demand.
d. evaluate the quality of a commodity.
b
Economics
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An increase in nominal GDP could result from an increase in
i. production. ii. prices. iii. subsidies. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii
Economics
Some economists suggest the optimal way for a nation to protect its access to a strategic mineral is with
A) an infant industry tariff. B) a high rate of effective protection to keep local mines in business. C) a quota on imports of the mineral. D) a low nominal rate of protection. E) a stockpile.
Economics