The price of cookies in terms of gallons of milk per cookie is 0.6 and the price a gallon of milk in terms of pounds of butter per gallon is 1.2. What is the relative price of cookies to butter?
A. 0.50
B. 1.39
C. 0.6
D. 0.72
Answer: D
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Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the
A. marginal revenue product of the third worker is $14. B. marginal product of each of the first two workers is 23. C. marginal revenue product of each of the first two workers is $23. D. third worker should not be hired.
The study of the decisions of individual units in the economy is known as
A) macroeconomics. B) microeconomics. C) the study of incentives. D) ceteris paribus study.
An exception to weighting stocks by market cap is the Dow Jones Industrial Average, which uses the stock price relative to the sum of the prices of all the stocks in the index
a. True b. False Indicate whether the statement is true or false
Saving is often discouraged by usury laws during inflationary periods because
a. nominal rates of interest are kept above real rates of interest. b. nominal rates of interest are kept below inflation rates. c. nominal rates of interest are kept above inflation rates. d. real rates of interest are kept above inflation rates.