If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year. 
A. 300; 200
B. 300; 450
C. 450; 200
D. 200; 450
Answer: B
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The equation of exchange specifies that
A) MsV = PY. B) velocity and money supply are directly related. C) MsP = VY. D) Ms = PVY.
In the market for euros, if the current exchange rate is below the equilibrium rate,
a. the quantity supplied and the quantity demanded for euros are equal. b. there is an excess supply of euros and the exchange rate will fall. c. there is an excess demand for euros and the exchange rate will rise. d. the exchange rate will neither rise nor fall. e. there is an excess demand for euros and the exchange rate will fall.
Theoretically, the price of a field hand on the New Orleans slave market would have
a. varied directly with the price of cotton. b. risen as interest rates fell. c. risen when the importation of slaves became illegal. d. All of the above are true.
If the consumer gets 90 utils from consuming four movies, 120 utils from consuming five movies, and 140 utils from consuming six movies, calculate the consumer's marginal utility from the fifth and sixth movies.
What will be an ideal response?