Refer to the information provided in Figure 6.9 below to answer the question(s) that follow.
Figure 6.9Refer to Figure 6.9. The ________ video game rental has a marginal utility of eight.
A. first
B. second
C. third
D. fourth
Answer: B
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On the vertical axis, the production possibilities frontier shows ________; on the horizontal axis, the production possibilities frontier shows ________
A) the quantity of a good; the number of workers employed to produce the good B) the quantity of a good; the price of the good C) the quantity of a good; a weighted average of resources used to produce the good D) the quantity of one good; the quantity of another good
Suppose a 10% increase in the price of steak reduces the consumption of steak by 30%. Such a price rise will induce households to spend
A. more of their income on steak. B. the same amount on steak as before. C. less of their income on steak. D. more on products that are complementary with steak.
The families that applied for the Moving to Opportunity program wee assigned into three groups. Which of the following does not describe one of those groups?
A) People in one group received nothing but were able to live in public housing with their rents fixed at 30% of their household incomes. B) People in one group were moved to housing in neighborhoods with poverty rates of less than 10%, and those people received vouchers to pay for 100% of their rent. C) People in one group received a voucher they could use to help pay for private housing, with the voucher paying any rent beyond 30% of their household incomes. D) People in one group received a voucher they could use to help pay for private housing, with the voucher paying any rent beyond 30% of their household incomes, but the voucher was good only if the family moved to a neighborhood with a poverty rate of less than 10%.
U.S. exports:
a. rise as our GDP rises, and fall as our GDP falls b. fall as our GDP rises, and rise as our GDP falls c. are insensitive to our GDP d. have no relation to our GDP