According to below graph, what is the total utility of the first slice of pizza?
a. 0
b. 10
c. 20
d. 30
b. 10
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The invocation of beggar-thy-neighbor arguments with respect to industrial policies
A) strengthens the argument for subsidies. B) makes sense if the international Keynesian multipliers exceed unity. C) applies only to rich countries most of whose trade partners are very poor countries. D) weakens the argument for subsidies. E) does not apply to rich countries who can influence relative world prices.
Many social policies, such as progressive income tax systems, are based on the idea that
a. everyone values money the same b. politicians are more responsive to the interests of the rich c. interpersonal comparisons of utility, however difficult, can be made d. the poor have a lower consumer surplus than the rich e. everyone has the same utility function
Suppose you receive Y1 of your income this period and Y2 of your income in the next period. If you can either borrow or lend at an interest rate r, what is the most you can consume in the future period?
A. Y2(1 + r) + Y1 B. Y2/(1 + r) + Y1 C. Y1(1 + r) + Y2 D. Y1/(1 + r) + Y2
A category of assets for banks is cash items in the process of collection. This is:
A. payments from the FDIC insurance fund due the bank. B. uncollected funds the bank is due to receive from the clearing of checks. C. currency the bank is due from the Treasury. D. late fees the bank is owed from loan payments that were not made on time.