When quantities of two goods belong to the same indifference curve, which of the following is true?
a. The combinations of the two goods along the indifference curve yield the same total utility.
b. Prices of the two goods are equal.
c. Marginal utilities of both goods are equal.
d. The total utility of all combinations above the curve equal zero.
a
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Suppose that in our economy: G = 1100, T = 900, S = 140, and NX = -90. How much of our final product is left for domestic firms to purchase for themselves?
A) 110 B) 200 C) 230 D) 50 E) 30
Using the above table, the labor force is
A) 380,000. B) 911,000. C) 930,000. D) 569,000.
David has just ordered a smartphone only to be told that she will have to wait one month for it to be delivered. Which of the following statements is TRUE?
A) The smartphone is not a scarce good. B) The smartphone is an economic good. C) The smartphone is human capital. D) The smartphone is an intangible good.
The functions of money include
A) A store of value. B) A unit of accounting. C) A medium of exchange. D) All of the above.