1. at the point where total utility is at its maximum, marginal utility is:
a. rising.
d. zero.
b. at its average value.
e. negative.
c. at its maximum.
2. which of the following is a microeconomic question rather than a macroeconomic question?
a. "will a decrease in the income tax rate lift the nation out of a recession? "
b. "will an increase in consumer spending create inflation? "
c. "will a decrease in the income tax rate create a budget deficit? "
d. "will an increase in the cigarette tax cause a decrease in the number of smokers? "
e. "will hiring subsidies to employers decrease the unemployment rate? "
3. which of the following questions is appropriate to the study of macroeconomics?
a. how does the aggregate price level affect overall consumer spending?
b. how does the level of interest rates affect delta airline’s decision to buy a new airplane?
c. how much will sony charge for the new game system to be introduced later this year?
d. what determines whether wachovia bank opens a new office in beijing?
e. why are the wages for computer programmers rising faster than the wages for clerical workers?