It is consistent with utility maximization for Juan to buy a $2 strawberry and papaya smoothie, for which he gets 20 units of marginal utility, instead of a $1.50 pizza slice for which he gets 10 units of marginal utility
Indicate whether the statement is true or false
true
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Protecting intellectual property rights:
A. encourages research and development. B. will increase total surplus for society. C. gives no incentive to innovate. D. only benefits producers in society.
The Keynesian analysis of macroeconomic equilibrium shows
A. how declines in aggregate supply can cause prosperity. B. how declines in aggregate demand can cause economic expansion. C. how declines in aggregate purchases can result in a recession and cyclical unemployment. D. All of the choices are correct.
Most academic studies show that Head Start benefits
A. are suspect due to the inability to test young children. B. slowly evaporate over two or three years and are not seen in testing of high school age children. C. don't exist at all, even for the children in the program. D. can be observed to last well beyond graduation from college.
What is the opportunity cost of investing $10,000 of your own money into a business you wish to start?
What will be an ideal response?