Sebastian drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.50 per can. On a particular day, he is willing to pay $0.95 for the first can, $0.80 for the second can, $0.60 for the third can, and $0.40 for the fourth can. Assume Sebastian is rational in deciding how many cans to buy. His consumer surplus is
a. $0.50.
b. $0.85.
c. $1.05.
d. $1.20.
B
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Most developing countries oppose including labor standards in trade agreements because
A) they believe this would involve a loss of their national sovereignty. B) they believe this would limit their ability to export to rich markets. C) they believe this would create an uneven playing field. D) multinational corporations control them. E) they do not want to improve wages for their workers.
Of the following, the largest is
A) money market deposit accounts. B) demand deposits. C) M1. D) M2.
In the Solow model, if k = 8, y = 24, and s = 0.25, what is c?
A) 24 B) 20 C) 18 D) 12
A straight line demand curve has a different elasticity of demand at different points along the curve
a. True b. False Indicate whether the statement is true or false