Based on the above figure showing a budget line, which of the following combinations of soda and bottled water are not affordable?
A) 3 bottles of water and 4 cans of soda
B) 4 bottles of water and 2 cans of soda
C) 2 bottles of water and 6 cans of soda
D) None of the above, that is, all the combinations listed are affordable.
C
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What is the best description of Northern wages from 1860-1864?
a. A relatively large decrease in demand relative to the decrease in supply led to lower wages and fewer people working. b. An increase in the demand for labor and decrease in the supply of labor led to lower wages and fewer people working. c. Increases in both the demand and supply for labor led to more people employed who were working for about the same wages. d. A decrease in the demand for labor coupled with an increase in the supply led to many fewer people working, but those who were employed worked for higher wages.
Which of the following weights on utility (over four periods starting with the current one) provide an illustration of hyperbolic discounting that could well lead to inconsistent choices over time?
a. 1, .5, .25, .125. b. 1, .25, .0625, .015625. c. 1, .8, .72, .648. d. 1, 1, 1, 1.
In 2011, the largest dollar volume of imports for the U.S. came from
a. consumer goods. b. industrial supplies. c. petroleum. d. automobiles.
Which of the following is the most liquid asset?
A) season tickets to the Yankees' games B) the cash that your Aunt Ursula stuffs in her mattress C) a $5,000 6-month certificate of deposit (time deposit) D) one hundred shares of IBM stock