Refer to Figure 10-7. Suppose the price of Pilates sessions rises to $30 while income and the price of Yoga sessions remain unchanged. What is her new optimal bundle?
A) still remains at bundle A. B) bundle B.
C) bundle C. D) bundle D.
C
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Which of the following is true regarding income along a price-consumption curve?
A) Income is increasing. B) Income is decreasing. C) Income is constant. D) The level of income depends on the level of utility.
The regional Federal Reserve bank presidents are:
A. selected by the Federal Reserve Board of Directors. B. allowed to serve no more than two consecutive four-year terms. C. are responsible for overseeing the day-to-day actions of the regional banks. D. responsible for ensuring that money supply can adequately meet the demand for money.
What is the percentage of income received by the upper quintile on line Y?
The institution of private property encourages:
A. easy exchange of some property because a formal title or deed exists. B. lack of easy exchange because ownership is sometimes hard to prove. C. lack of incentives because the owner is responsible for maintenance costs. D. lack of maintenance because people are not forced by law to do it.