Suppose Jane has chosen a combination of two goods, A and B, such that MU/P of good A is 10 (MUA/PA = 10), and the MU/P of good B is 10 (MUB/PB = 10). To increase utility with the same amount of money, Jane should:
A. increase the number of B consumed.
B. increase the number of A consumed.
C. increase the number of A and B consumed.
D. do nothing; she cannot increase utility with the same amount of money.
Answer: D
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A) provide only those public goods whose benefits outweigh their costs. B) provide no public goods. C) provide only those public goods whose costs outweigh their benefits. D) provide all possible pure public goods.
The view that population growth occurs when real GDP per person exceeds the amount necessary to sustain life is part of the ________
A) classical growth theory B) modern theory of population growth C) neoclassical growth theory D) new growth theory
Refer to Figure 2-4. A movement from ________ could occur because of additional government restrictions toward allowing immigrant labor
A) Y to X B) W to X C) V to W D) X to W
What choices do you have, both in your daily life and your long-term outlook, that are more limited in developing countries?
What will be an ideal response?