Which of the following is true regarding utility along a price-consumption curve?
A) It is constant.
B) It changes from point to point.
C) It changes only if income changes.
D) It changes only for normal goods.
B
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The absorption approach is a theory of the balance of payments that emphasizes how domestic spending on domestic goods changes relative to domestic output
Indicate whether the statement is true or false
Fiona can iron 5 shirts or cook 2 meals in an hour. Alicia can iron 6 shirts or cook 1 meal in an hour. Which of the following statements is true?
a. Fiona's marginal cost of ironing a shirt is greater than Alicia's. b. Alicia's marginal cost of ironing a shirt is greater than Fiona's. c. Alicia's marginal cost of cooking a meal is twice that of Fiona's. d. Fiona's marginal cost of cooking a meal is twice that of Alicia's.
A study using data from the late 1960s showed that black baseball players earned less than comparable white players. Studies of more recent salaries in baseball, however, have found no evidence of discriminatory wage differentials
a. True b. False Indicate whether the statement is true or false
Nate collected Social Security payments of $220 a month in 1985 . If the price index rose from 90 to 108 between 1985 and 1986, then his Social Security payments for 1986 should have been
a. $228. b. $238. c. $257. d. $264.