The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $10.00 per week. Milkshakes cost $2.00 each and sodas cost $1.00 each
What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) one
B) two
C) three
D) four
D
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During recent years, Green Revolution scientists have
a. focused on techniques of organic farming b. focused primarily on developing new strains of wheat and corn c. produced seeds for a greater variety of crops d. engaged in little activity since their funding has been cut off e. focused on political issues of agriculture in developing countries
The key idea of the aggregate expenditure model is that in any particular year, the level of ________ is determined mainly by the level of aggregate expenditure
A) GDP B) frictional unemployment C) export spending D) government spending
Many banks offer accounts featuring "Automatic Transfer from Savings" allowing customers to overdraw checking accounts and the bank will transfer enough funds to cover the check automatically. Most likely, what is the effect of this feature on velocity?
a. It will decrease. b. It will increase. c. It will remain constant. d. Velocity is unrelated to saving accounts.
Whenever firms in a perfectly competitive market produce the output level where marginal revenue equals marginal cost, we know that the firm is earning an economic profit
a. True b. False Indicate whether the statement is true or false