The utility from a specific product is
A. determined by a consumer's income.
B. constant as one consumes more units of it.
C. determined by the price of the product.
D. a measure of one's preference or taste for it.
Answer: D
Economics
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Policies to keep inflation in check ________
A) are, typically, fiscal policies B) are a potential cause of high unemployment C) are unlikely to be needed, so long as government spending remains high D) include increasing the quantities of money and saving E) are desirable in the short run, but may produce bad long-run outcomes
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When the Keynesian-cross model is in equilibrium, income equals output and aggregate expenditure equals output
a. True b. False Indicate whether the statement is true or false
Economics