John either buys a steak or chicken when dining out. John's marginal utility for steak and chicken is given in the above table
If the price of a steak is $5 and the price of a chicken is $5 and John has $25 to spend on the two goods, what combination of steak and chicken will John consume to maximize his utility? A) 1 steak and 4 chickens
B) 3 steaks and 2 chickens
C) 4 steaks and 3 chickens
D) 5 steaks and 6 chickens
B
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Which of the following would be a debit in the U.S. capital account?
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Which of the following is correct?
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How does trading in over-the-counter markets increase systemic risk?
What will be an ideal response?
When the economy experiences a permanent supply side shock that shifts the long-run aggregate supply to the right, the short run aggregate supply curve will:
A. begin by shifting left initially, and then be pulled right by the long-run aggregate supply over time. B. gradually shift right until it reaches long-run aggregate supply and the new long-run equilibrium. C. instantly shift left with the long-run aggregate supply to the new long-run equilibrium. D. None of these is true.