Cheese is priced at $5 per pound and wine at $10 per bottle. A consumer who enjoys both cheese and wine will not be in consumer equilibrium until the marginal utility of a pound of cheese is:
a. four times that of wine.
b. one-fourth that of wine.
c. two times that of wine.
d. one-half that of wine.
d
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The total demand for goods and services at a given price level is also known as
A) autonomous consumption. B) the consumption function. C) equilibrium output. D) planned expenditures.
Explain why to some game theorists, the idea of mixed strategies is appealing, and to others it is implausible
What will be an ideal response?
Suppose Ms. Sanchez has a total income of $200,000, has a taxable income of $120,000, and pays $40,000 in taxes. Considering the information, what is Ms. Sanchez's nominal tax rate?
A. 20.0 percent. B. 33.3 percent. C. 60.0 percent. D. 18.5 percent.
When domestic prices rise,
A. people buy fewer imported goods. B. exports rise. C. exports fall. D. business investment rises because interest rates fall.