If the graph shown represents Tina's budget constraint, which of the following consumption bundles can Tina not afford?
A. Three pairs of earrings and four hairbands
B. Two pairs of earrings and four hairbands
C. No earrings and six hairbands
D. Cannot answer this question without knowing Tina's income and the prices of the two goods
A. Three pairs of earrings and four hairbands
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Refer to Table 19-11. Nominal GDP for Tyrovia in 2016 equals
A) $1,140. B) $880. C) $690. D) $560.
In the early 1980s, U.S. economic policy was directed toward reducing inflation. What would you have expected to observe during this short period of time?
a. Inflation fell and unemployment fell. b. Inflation and unemployment were both unaffected. c. Inflation fell and unemployment increased. d. Inflation fell and unemployment was unchanged.
Welfare economics is the study of
a. taxes and subsidies. b. how technology is best put to use in the production of goods and services. c. government welfare programs for needy people. d. how the allocation of resources affects economic well-being.
The American Recovery and Reinvestment Act cost an estimated how much?
a. $631 million b. $731 million c. $831 million d. $931 million