Refer to Figure 21-10. Which of the following statements is correct?
a. If a consumer moves from bundle C to bundle A, her loss of cake cannot be compensated for by an increase in donuts.
b. Because more is preferred to less, bundle C may be preferred to bundle E in some circumstances for this consumer.
c. Bundle E is preferred to all other points identified in the figure.
d. Even though bundle E has more of both goods than bundle B, we could draw a different set of indifference curves in which bundle B is preferred to bundle E.
c. Bundle E is preferred to all other points identified in the figure.
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The current role of the International Monetary Fund is one of
a. supervising a system of fixed exchange rates. b. providing assistance to countries with currency or debt problems. c. setting exchange rates based on a gold exchange standard. d. acting as a lender of last resort to central banks.
One major roadblock with paying student-athletes is that universities are hesitant to
a. create a semiprofessional league b. establish an employee-employer relationship c. pay their student-athletes competing in Olympic sports d. reduce coaching salaries in order to compensate student-athletes e. none of these
Since the specification of a poverty standard is an imprecise endeavor, it is a useless exercise
Indicate whether the statement is true or false
Refer to the given table. Suppose the columns in this table reflect demand and supply. At a price of $50:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. there will be an excess supply of 70 units. B. there will be an excess supply of 5 units. C. there will be an excess demand of 5 units. D. the market will be in equilibrium.