Katie's total utility for 4 packs of Star Wars trading cards would be
Demand and Utility Schedules for Packs of Star Wars Trading Cards
A. $24.
B. $27.
C. $28.
D. $34.
D. $34.
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The following is likely to occur after a ________ shock: [AD? ? Y? ? T? ? deficit? ? G? ? AD? ? Y?].
A. positive aggregate demand B. positive aggregate supply C. negative aggregate demand D. negative aggregate supply
The extra cost associated with undertaking an activity is called
A) opportunity cost. B) foregone cost. C) marginal cost. D) net loss.
Indifference curves are downward sloping because
A) when some of one good is taken away the consumer must be compensated with more of the other. B) higher prices mean less quantity demanded. C) higher indifference curves mean higher utility. D) Both A and B.
According to the theory of purchasing-power parity, the nominal exchange rate between two countries must reflect the differing
a. price levels in those countries. b. resource endowments in those countries. c. income levels in those countries. d. standards of living between those countries.