Sally derives utility from consuming apples and tacos as shown in the table above. Apples cost $1 each and tacos cost $2 each. If Sally's income is $9, she will consume
A) 5 apples and 2 tacos.
B) 3 apples and 3 tacos.
C) 1 apple and 4 tacos.
D) no apples and 4 1/2 tacos.
B
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Define the shutdown point. Explain why the firm shuts down in the short run if the price falls below this point
What will be an ideal response?
If a country has a net capital inflow, it is almost certainly experiences both capital inflows and capital outflows
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
a. The CPI can be used to compare dollar figures from different points in time. b. The percentage change in the CPI is a measure of the inflation rate, but the percentage change in the GDP deflator is not a measure of the inflation rate. c. Compared to the consumer price index (CPI), the GDP deflator is the more common gauge of inflation. d. The GDP deflator better reflects the goods and services bought by consumers than does the CPI.
Basic economics indicates that the cornerstones of economic progress are
A) free elections, the right to bear arms, a written constitution, and a powerful head of state. B) private ownership, freedom of exchange, competitive markets, and monetary stability. C) representative democracy, a powerful chief executive office, protection of domestic business, and government regulation. D) centralized government, free elections, majority rule, and two legislative branches.