Lana spent $5 to see a movie. We know
A. the movie was worth 500 utils.
B. Lana’s total utility from movies was $5.
C. the movie was worth at least $5 worth of other goods.
D. the movie increased marginal utility.
Answer: C
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Consumers in Beachland consume only two goods, sodas and DVDs. If they spend $10 on sodas and $90 on DVDs a month, how many sodas and DVDs are in their CPI market basket if the price of a soda is $1 and the price of a DVD is $9?
A) 9 sodas and 1 DVD B) 1 soda and 9 DVDs C) 10 sodas and 9 DVDs D) 10 sodas and 10 DVDs E) It is impossible to determine the market basket without information on the quantity of at least one of the two goods consumed.
Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Prancer's stock on the previous day was $55.50, what value goes in blank (C)?
A. +0.75 B. -0.50 C. +0.50 D. +0.25 E. There is not enough information given to answer this question.
If the price of TVs produced by XYZ-TV Company increases from $1,000 to $1,250 per TV set, then the:
A. supply of labor to the XYZ-TV Company increases. B. demand for labor by the XYZ-TV Company increases. C. supply of labor to the XYZ-TV Company decreases. D. demand for labor by the XYZ-TV Company decreases.
Refer to the information provided in Table 30.1 below to answer the question(s) that follow.
Table 30.1
Refer to Table 30.1. From 2014 to 2016 the real wage
A. rises. B. falls. C. stays the same. D. rises then falls.