Sara is considering the purchase of a new car. Rational self-interest demands that she do an exhaustive research study to acquire every bit of information possible about her potential options
a. True
b. False
B
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Which of the following statements is true?
A) Defending an overvalued currency is easier than defending an undervalued currency. B) Defending an undervalued currency is easier in the short run than in the long run. C) The nominal exchange rate is the ratio of the same basket of goods in two countries. D) The real exchange rate is calculated by dividing the nominal exchange rate by the inflation rate.
When Italy buys Boeing jets, the price Italy pays is ________ if it produced its own jets, and the price Boeing receives is ________ than it could receive from an additional U.S. buyer
A) lower than; higher B) higher than; higher C) the same as; higher D) lower than; lower E) higher than; lower
Sonya's budget for magazines and chocolate bars is $50. Her marginal utility from these goods is shown in the table above. If the price of a magazine is $5 and the price of a chocolate bar is $2
50, which of the following combinations maximizes Sonya's utility? A) 1 magazine and 18 chocolate bars B) 2 magazines and 20 chocolate bars C) 3 magazines and 14 chocolate bars D) 5 magazines and 10 chocolate bars
Sefronia and Bella share an apartment and they are deciding whether or not to purchase a weekly housecleaning service. The value of the service to each of them is $50 and it costs $80 to hire a housecleaner. Should they hire a housecleaner?
A) No, because each will wait for the other to hire the housecleaner. B) Yes, but only if a housecleaner will accept $50 so that each can take turns to pay the housecleaner. C) No, because it will be difficult for them to agree on which housecleaning service to use. D) Yes, if each contributes $50, then each stands to gain a consumer surplus.