Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 20 magazines per week, which of the following amount of pizza is not affordable to him?
A) 10
B) 20
C) 9
D) All of the above answers are correct because none of the listed amounts of pizza are affordable.
B
You might also like to view...
The mechanism of supply and demand is
A. a fundamental tool in both microeconomics and macroeconomics. B. the only real “law” of economics. C. a fundamental tool only in microeconomics. D. a fundamental tool only in macroeconomics.
Big Waves is a large water park. Suppose the individual demand for entrance into Big Waves is Qd = 50 - (2 × P) and each consumer has the same demand. Big Waves has a constant marginal cost of $5 per consumer. If Big Waves charges a single entry price to each consumer, what is the profit-maximizing price per consumer?
A) $25 B) $15 C) $20 D) $10
You receive money as payment for babysitting your neighbors' children. This best illustrates which function of money?
a. medium of exchange b. unit of account c. store of value d. liquidity
If over a period of time real gross domestic product (GDP) increases while nominal GDP decreases, then this implies
a. a significant rise in the price level. b. a significant drop in the price level. c. that real GDP is higher than nominal GDP. d. that the given period occurs before the base period. e. that the given period year occurs after the base period.