If an economy produced 60 pounds of sushi at $12 per pound and 15 gallons of sake at $30 per gallon, the total value of these goods and services would be
A) $450. B) $720. C) $1,170. D) $2,700.
C
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Answer the following statement(s) true (T) or false (F)
1. Speculators will sell futures contracts when they believe future demand will be lower than suppliers expect. 2. Diversification tends to raise the standard deviation of a portfolio. 3. Risk-averse investors choose to hold only two assets: a risk-free asset and a market portfolio 4. When faced with two portfolios that offer the same expected return, a risk-averse investor prefers the one with the higher standard deviation. 5. There is only one possible market portfolio-the portfolio consisting of all the risky assets in the economy.
Today, the United States is a
I. net borrower. II. net lender. III. debtor nation. IV. creditor nation. A) I and IV B) II and IV C) I and III D) II and III
Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ice cream cone is $2 and the price of a candy bar is $1. The table below shows Lilly's utility values
Use the table to answer the questions that follow the table. Quantity of Ice Cream Cones Total Utility Marginal Utility Marginal Utility per Dollar Quantity of Candy Total Utility Marginal Utility 1 20 1 20 2 38 2 38 3 52 3 48 4 62 4 54 a. Complete the table by filling in the blank spaces. b. Suppose Lilly purchases 2 ice cream cones and 1 candy bar. Is she consuming the optimal consumption bundle? If so, explain why. If not, what combination should she buy and why?
Refer to the above diagram. Marginal utility:
A) increases at an increasing rate. B) becomes zero at 4 units of output. C) is found by dividing total utility by the number of units purchased. D) cannot be calculated from the total utility information.