If banks are prevented from lending out funds, there will be no money creation in an economy
a. True
b. False
Indicate whether the statement is true or false
True
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If Katie purchases two slices of pizza and six breadsticks to maximize her total utility, then
A) a slice of pizza costs three times as much as a breadstick. B) a breadstick costs three times as much as a slice of pizza. C) her marginal utility from the second slice of pizza divided by the price of a slice of pizza is equal to her marginal utility from the sixth breadstick divided by the price of a breadstick. D) Both answers A and C are correct.
A tariff is a numerical limit on the quantity of a good that can be imported
Indicate whether the statement is true or false
Stella's marginal utility of the last unit of X consumed is 18 and her marginal utility of the last unit of Y consumed is 12 . What prices for X and Y, respectively, are consistent with Stella being in consumer equilibrium?
a. $4 and $6 b. $12 and $18. c. $15 and $15. d. $12 and $8.
If the San Diego Opera decreases the price of their opera tickets and their total revenue falls, then this suggests that, at the original price, the demand for tickets to the San Diego Opera was:
A. either elastic or inelastic. B. elastic. C. inelastic. D. unit elastic.