Usharani consumes 35 apples a week and 14 loaves of bread. Apples cost $1 each and bread costs $2 per loaf. Usharani is maximizing his utility and finds that the marginal utility from his 35th apple
A) equals his marginal utility from his 14th loaf of bread.
B) is twice his marginal utility from his 14th loaf of bread.
C) is half his marginal utility from his 14th loaf of bread.
D) is such that his total utility from apples equals his total utility from bread.
C
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Other things being equal, the international value of foreign currencies will increase against the U.S. dollar if:
A. U.S. citizens reduce spending on imports B. The U.S. Federal Reserve raises real interest rates C. There is an increase in the number of foreign tourists in the United States D. There are withdrawals of funds by foreigners from U.S. money markets
Sheamous loses his job and decides to sit on the beach rather than look for work during the next few months. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate decreases. b. increases, and the labor-force participation rate is unaffected. c. is unaffected, and the labor-force participation rate decreases. d. and the labor-force participation rate are both unaffected.
Discouraged workers are included in the
A. labor force category. B. unemployed category. C. not in the labor force category. D. employed category.
The supply and demand model assumes
A) no buyer or seller can unilaterally influence the price of the product. B) each unit sold is sold at the same price. C) suppliers and demanders know the price of the product. D) All of the above.