Macroeconomists Are Concerned with Each of the Following Issues EXCEPT

question 127

Multiple Choice

Macroeconomists are concerned with each of the following issues EXCEPT

• A) why does inflation vary over time?
• B) why does inflation vary across countries?
• C) must a reduction in inflation be accompanied by an increase in unemployment?
• D) why do the prices of computers increase more slowly than the price of gasoline?
• E) what are the costs of inflation?

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Definitions:

Marginal Utility

The incremental pleasure or benefit a person achieves by consuming an additional unit of a good or service.

Total Utility

The total satisfaction or benefit a consumer derives from consuming a particular quantity of goods or services.

Utility Schedule

A table showing the different levels of satisfaction or utility that a consumer derives from consuming different amounts of a good or service.

Worth

The value or importance of something, often measured in terms of money or utility.