Refer to the above data. What quantities of X and Y should be purchased to maximize utility?
A) 2 of X and 1 of Y
B) 4 of X and 5 of Y
C) 2 of X and 5 of Y
D) 2 of X and 6 of Y
Ans: C) 2 of X and 5 of Y
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In the figure above, what can you deduce about the slope of the curve?
What will be an ideal response?
A variable that tends to move later than aggregate economic activity is called
A) a leading variable. B) a coincident variable. C) a lagging variable. D) an acyclical variable.
One important issue in the post-bellum currency debate concerned the coinage of silver by the federal government. Which of the following statements presents accurate information regarding the silver debate?
a. Silver circulated widely as money in the years immediately prior to the Coinage Act of 1873. b. The Bland-Allison Act allowed for the Treasury to make limited monthly silver purchases at the market price. c. Post-Civil War there was a fall in the output of American silver mines. d. Congress passed the Coinage Act in 1873 despite widespread public opposition to this legislation at the time.
To stay one step ahead of the forces of competition, a firm can adopt any one of these strategies except
a. Cost reduction b. Product differentiation c. Operating where marginal benefits equal marginal costs d. Develop non-fungible valuable resources