Refer to the figure below. In the matrix above: 
A. both Cory and Jess have the same dominant strategy.
B. Cory has a dominant strategy, but Jess does not.
C. neither Cory nor Jess has a dominant strategy.
D. Jess has a dominant strategy, but Cory does not.
Answer: C
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Daisy is consuming X and Y so that she is spending her entire income and MUx/Px = 12 and MUy/Py = 10. To maximize utility, she should
A. consume more X and less Y. B. consume less of both X and Y. C. consume less X and more Y. D. continue to consume the same amount of X and Y since she is already maximizing utility.
A critical component of supply-side economics is that
a. there is no wage that is so low that someone will not be willing to work for it. b. as the wage gets higher, workers choose significantly less leisure. c. labor supply is inelastic. d. as the wage gets higher, workers are richer and choose more leisure.
According to the equation of exchange, if nominal GDP equals $6 trillion and the money supply equals $1 trillion, the velocity of money: a. must be 6
b. must be 1/6. c. must be 6 trillion. d. must be 1/6 trillion. e. cannot be determined unless we know the price level.
If Priscilla regards cheese and crackers as perfect complements, then
a. her indifference curves slope upward. b. her indifference curves are straight lines. c. Priscilla prefers lower indifference curves to higher ones. d. for Priscilla a bundle of 5 crackers and 5 ounces of cheese is just as good as a bundle of 5 crackers and 8 ounces of cheese.