Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: In order to maximize utility subject to her budget constraint, this consumer should buy how many units of good X?
In order to maximize utility subject to her budget constraint, this consumer should buy how many units of good X?
A. 6
B. 0
C. 8
D. 12
E. 4
Answer: E
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The World Bank approach to combating child labor stresses
(a) making child labor legal under certain conditions. (b) tackling the sources of poverty. (c) encouraging families to migrate to richer countries. (d) providing each child with a computer so that children have an alternative to working.
Select the correct statement
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A. 0.2 B. 1 C. 0.6 D. 0.5
Which of the following is a gain from trade?
A. A level of self-sufficiency for all trading countries. B. A higher price level for all trading countries. C. A shorter workweek for all trading countries. D. A higher standard of living for all trading countries.