A ticket to see the Radio City Rockettes costs $90. You buy a ticket for $30 to see the New York Jets play football. The money price for
A) the Rockettes ticket is $90 and the relative price is 3 Jets tickets per Rockette ticket.
B) the Rockettes ticket is 3 Jets tickets per Rockette ticket and the relative price is $90.
C) a Jets ticket is $30 and the relative price is 3 Rockettes tickets per Jets ticket.
D) a Jets ticket is $30 and $3 for a Rockettes ticket.
A
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If it costs $6.00 to go to the movies and $25.00 to go to a hockey game, Tom is maximizing his utility between movies and hockey if his marginal utility of movies is 12 units and his marginal utility from hockey is 50
Indicate whether the statement is true or false
Keynes hypothesized that the speculative component of money demand was primarily determined by the level of
A) interest rates. B) velocity. C) income. D) stock market prices.
If a country allows trade and, for a certain good, the domestic price without trade is higher than the world price,
a. the country will be an exporter of the good. b. the country will be an importer of the good. c. the country will be neither an exporter nor an importer of the good. d. Additional information is needed about demand to determine whether the country will be an exporter of the good, an importer of the good, or neither.
Refer to Figure 16.4. If the economy is initially in equilibrium at P3 and Q1, which of the following policies would move the economy to equilibrium at P2 and Q3?
A. Restrictive supply-side policy alone. B. A combination of restrictive fiscal policy and restrictive monetary policy. C. A combination of expansionary monetary policy and expansionary supply-side policy. D. Contractionary monetary policy alone.