The redirection of macroeconomic policy that took place during the Reagan and both Bush administrations was inspired by
a. supply-side economics.
b. real business cycle theory.
c. new classical economics.
d. new Keynesian directions.
A
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The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $10.00 per week. Milkshakes cost $2.00 each and sodas cost $1.00 each
What quantity of milkshakes does Tom purchase at his consumer equilibrium? A) one B) two C) three D) four
The price elasticity of demand for Rosie's Roses fresh flowers the week of Valentine's Day is 1.10 and is 1.60 other days of the year. If Rosie's Roses faces a constant marginal cost of $0.75 per rose, what is the profit-maximizing peak-load price to charge the week of Valentine's Day?
A) $8.25 B) $2.00 C) $6.50 D) $11.00
To an economist, all choices have costs
Indicate whether the statement is true or false
PXX + PYY = M is called:
A. an indifference curve. B. a budget set. C. a budget line. D. an opportunity set.