Danny has $12 to spend on two goods: pies and soda. The price of a pie is $4, and the price of a can of soda is $2. To maximize his utility, Danny buys ________
A) the combination that gives him equal total utility from pies and soda
B) 2 pies and 2 cans of soda
C) only sodas because they are less expensive
D) the combination that gives him the same marginal utility per dollar spent on pies as on soda
D
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The health care system in Japan is referred to as ________, under which every resident of Japan is required to enroll in either a private, or the government-provided, health insurance program
A) an out-of-pocket system B) a single-payer health care system C) a universal health insurance system D) socialized medicine
"As long as total revenue slopes up, marginal revenue must slope up also." Explain whether this statement is true or false
In the Keynesian model of aggregate expenditure, real GDP is determined by the
a) price level b) level of aggregate demand c) level of aggregate supply d) level of taxes
A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness
A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness.