The value of money varies inversely with the price level.
Answer the following statement true (T) or false (F)
True
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Elaine spends $10 a week on pizza and Pepsi. The price of pizza is $2 a slice and the price of a Pepsi is $2. The table shows Elaine's total utility from pizza and Pepsi
Elaine maximizes her total utility by buying ________ slices of pizza and ________ Pepsis a week. A) 5; 0 B) 0; 5 C) 3; 2 D) 2; 3
Centrally planned economies are not constrained by the problem of scarcity
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. If the firm is producing 120 units of output, profit is equal to:
A. $30. B. $38. C. $0. D. ?$38.
If a society acquires more human capital, per capita production will fall unless it gets more physical capital too.
Answer the following statement true (T) or false (F)