If by purchasing a little more milk and a little less ice cream you could increase your total utility,
a. the MU of milk must be greater than that of ice cream
b. the MU of ice cream must be greater than that of milk
c. the MU/P of milk must be greater than that of ice cream
d. milk must be cheaper than ice cream
e. the MU of milk will increase
C
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Henry David Thoreau faced a choice: Stay in the village of Concord or move out to Walden Pond. He decided to move to Walden. What was his" opportunity cost"?
A) There was no opportunity cost if he didn't pay rent for his cabin on Walden Pond. B) The satisfaction he would have enjoyed were he to stay in Concord C) The sweat and toil of building his own cabin and living off the land at Walden Pond D) There was no opportunity cost, because he made a free and voluntary decision to live the way he preferred to live.
The smaller the fraction of an investment financed by borrowing,
A) the smaller the potential return and the greater the potential loss on that investment. B) the greater the potential return and potential loss on that investment. C) the greater the potential return and the smaller the potential loss on that investment. D) the smaller the potential return and potential loss on that investment.
As an exchange rate regime, target zones would be classified as
A) splitting the difference between fixed and flexible. B) a flexible exchange rate policy. C) a fixed exchange rate policy. D) a currency basket.
A decrease in the value of the dollar relative to foreign currencies would _____ the supply of foreign products in the U.S. and _____ the demand for U.S. products in other countries.
A. increase; increase B. increase; decrease C. decrease; increase D. decrease; decrease