Hasan’s manager is ordering pizza for the office for tomorrow. She asks everyone to tell her the maximum number of slices they will eat. If Hasan seeks to maximize his total utility as shown in this graph, what is the maximum number of slices he will eat?
a. 3
b. 4
c. 5
d. 6
c. 5
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Mary decides to buy a bond from Joe for $100. The money supply will
A) neither increase nor decrease. B) increase by more than $100. C) decrease by $100. D) increase by $100.
Increasing opportunity cost implies that
A) producing additional units of one good results in proportionately smaller reductions in the output of the other good. B) producing additional units of one good results in increasing amounts of lost output of the other good. C) the production possibilities frontier will be a straight line. D) the society will be producing inside its production possibilities frontier.
Suppose coffee prices, gasoline prices, and concert ticket prices are all sharply higher this year compared to last year. The economy is experiencing
A) disinflation. B) deflation. C) inflation. D) possibly A, B, or C above.
Expansionary monetary policy refers to the Fed's increasing the money supply and increasing interest rates to increase real GDP
Indicate whether the statement is true or false