When the economy is initially at full employment:
a. expansionary monetary policy will tend to increase the price level in the short run and the long run.
b. expansionary monetary policy will tend to increase the price level in the short run but not the long run.
c. expansionary monetary policy will tend to increase the price level in the long run but not the short runq
d. expansionary monetary policy will not tend to increase the price level in the short run or the long run.
a
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Refer to the scenario above. The total value in your account, at the end of a year, is equal to:
A) $520. B) $525. C) $550.50. D) $572.
A local restaurant offers an "all you can eat" ribs special. You pay $11.95, and then you can eat as many servings as you desire at no additional cost. It would follow that you will stop eating when:
a. your marginal utility (or value) derived from eating another serving is zero. b. your total utility (or value) derived from all of the servings consumed just equals $11.95. c. your marginal utility (or value) derived from another serving equals $11.95. d. it is physically impossible for you to eat any more.