Someone who studies the pricing policies of the Microsoft Corporation would be a microeconomist.
Answer the following statement true (T) or false (F)
True
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Kristen has an income of $450 per year to spend on music CDs and movies on DVDs. The price of a CD is $15 and the price of a DVD is $22.50. The indifference curves in the figure above (I1, I2, and I3 ) reflect Kristen's preferences
What is Kristen's best affordable combination of DVDs and CDs? A) 10 DVDs and 15 CDs per year B) 15 DVDs and 12 CDs per year C) 12.5 DVDs and 12 CDs per year D) 5 DVDs and 18 CDs per year
The underground economy includes: a. only illegal sources of unreported income
b. both legal and illegal sources of unreported income. c. both legal and illegal sources of reported income. d. payments that are reported to the government.
Sustained long-term economic growth comes from decreases in worker productivity, which essentially means how well we do things.
Select whether the statement is true or false. A. True B. False
Inflation:
a) Always reduces the cost of living b) Always reduces the standard of living c) Reduces the price of products d) Reduces the purchasing power of a pound