Betty consumes only milkshakes and sandwiches and maximizes her total utility. Suppose that the prices of a milkshakes and sandwiches both double and at the same time Betty's income doubles
Betty buys ________ sandwiches and her marginal utility from sandwiches ________. A) more; increases
B) fewer; decreases
C) more; decreases
D) the same number of; remains the same
D
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The labor force participation rate is the
A) proportion of the labor force that is unemployed. B) proportion of the noninstitutionalized adult population in the labor force. C) proportion of the labor force that is employed. D) proportion of the noninstitutionalized adult population that is employed.
Copper falls into which factor of production category?
A) land B) labor C) capital D) entrepreneurship
If U.S. imports increase, the sum of the balance of payments accounts (the sum of the current account plus capital and financial account plus official settlements account)
A) becomes negative. B) becomes positive. C) becomes negative or positive depending on the government budget deficit or surplus. D) does not change.
If income increases by $750, we know that the change in
A. consumption and saving is greater than $750. B. consumption, saving, and imports equals $750. C. consumption, saving, and imports is greater than $750. D. consumption, saving, imports, and exports is less than $750.