Mary has $10 to spend each week on coffee, Qc and magazines, Qm. The price of a coffee is $1, and the price of a magazine is $2. Mary's budget equation is ________
A) Qm = 10 - Qc
B) Qm + Qc = 20
C) $1 × Qc + $2 × Qm = $10
D) Qm = 10 - 2 × Qc
C
You might also like to view...
The following is a Cobb-Douglas production function: Q = 1.75K0.5•L0.5 . What is correct here?
a. A one-percent change in L will cause Q to change by one percent b. A one-percent change in K will cause Q to change by two percent c. This production function displays increasing returns to scale d. This production function displays constant returns to scale e. This production function displays decreasing returns to scale
The incidence of a payroll tax is borne by both employers and employees
a. True b. False Indicate whether the statement is true or false
Figure 14-6
In the situation shown in , how could the Fed return the economy to potential output?
a.
decrease government spending
b.
increase taxes
c.
decrease taxes
d.
shift to a more restrictive monetary policy
e.
shift to a more expansionary monetary policy
When the relative prices of U.S.-manufactured goods go up, the result is
A. a decrease in exports. B. an increase in exports. C. a decrease in imports. D. no net change in imports or exports.