Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom's budget constraint is AC. At which point does Tom consume only hamburgers?
A. A
B. B
C. C
D. D
Answer: C
You might also like to view...
Refer to Figure 14-3. How will Rainbow Writer respond to Odeon's two possible offers?
A) Rainbow Writer will accept either offer. B) Rainbow Writer will reject either offer. C) Rainbow Writer will only accept an offer of $30 per copy of the software package. D) Rainbow Writer will only accept an offer of $40 per copy of the software package.
Refer to above Table 2-2. The chain-weighted real GDP for year 2 is
A) $14.53. B) $14.49. C) $14.44. D) $16.61.
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $100,000; $100,000 b. $100,000; $400,000 c. $400,000; $500,000 d. $400,000; $2,000,000
Utility is a measure of a person's level of satisfaction or happiness from the consumption of a particular good
a. True b. False Indicate whether the statement is true or false