Suppose you have money income of $10, all of which you spend on Coke and popcorn. In the diagram, the prices of Coke and popcorn respectively are:
A. $.50 and $1.00.
B. $1.00 and $.50.
C. $1.00 and $2.00.
D. $.40 and $.50.
A. $.50 and $1.00.
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Total utility
A. diminishes as the quantity consumed of a good increases. B. increases as long as more goods are acquired. C. increases as long as marginal utility increases. D. increases as long as marginal utility is positive. E. diminishes as consumption of some good rises.
In the figure above, a point showing an inefficient production point is point
A) A. B) B. C) C. D) D.
In the Keynesian DMP model, if the wage is high then
A) the vacancy rate is low. B) the unemployment rate is low. C) labor market tightness is high. D) the labor force must be low.
If a bank offers mortgages that do not require the normal 20% down payment, the bank encourages
A) people who know they might not pay off the mortgage. B) people who can't afford the down payment but can pay off the mortgage. C) people who know that they are going to pay off the mortgage. D) people who know they can't pay off the mortgage but who can afford the down payment.