An individual derives utility from consuming "all other goods," g, and clean air (measured by the reduction in particulate matter per m3), a, as measured by the utility function U(g,a) = g0.6a0.4
The price of consumer goods equals $20 and the price of clean air (abatement) equals $10. What is the slope of the Engel curve when income increases from $100 to $200? A) The slope is 25.
B) The slope is -25.
C) The slope is zero.
D) The slope is infinite.
A
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Which of the following is included in a nation's capital and financial account?
I. the purchase of foreign stocks and bonds II. the sale of foreign stocks and bonds III. importing a piece of capital equipment A) I only B) I and II C) III only D) I, II and III
Education in the United States is heavily subsidized by the government. This fact suggest that
I. less than the efficient amount of education would be provided by an unregulated market. II. the marginal social benefit of education is greater than marginal social cost of education. A) I only B) II only C) both I and II D) neither I nor II
If a company offers a discounted price to college students, the legality of the practice will be evaluated under Section ________ of the Clayton Act.
A) 2 B) 3 C) 7 D) 8
Refer to the table below. If these are the only three price options for a bushel of corn, what is the value of A?
The above table provides the possible prices for a bushel of corn next year along with the associated probabilities (in percent).
A) 0.55
B) 0.45
C) 0.25
D) 0.30