Sue views hot dogs and hot dog buns as perfect complements in her consumption, and the corners of her indifference curves follow the 45-degree line
Suppose the price of hot dogs is $5 per package (8 hot dogs), the price of buns is $3 per package (8 hot dog buns), and Sue's budget is $48 per month. What is her optimal choice under this scenario? A) 8 packages of hot dogs and 6 packages of buns
B) 8 packages of hot dogs and 8 packages of buns
C) 6 packages of hot dogs and 6 packages of buns
D) 6 packages of hot dogs and 8 packages of buns
C
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The Keynesian zone of the SRAS curve is on the far:
a. right, which is relatively flat. b. left, which is relatively steep. c. left, which is relatively flat. d. right, which is relatively steep.
Which of the following is likely to have the most price inelastic demand?
a. mint-flavored toothpaste b. toothpaste c. Colgate mint-flavored toothpaste d. a generic mint-flavored toothpaste
When bond prices go up, interest rates
A. go up. B. stay the same. C. go down. D. may go up, stay the same, or go down.
As price declines, quantity supplied
A. rises. B. falls. C. remains the same.