Terry buys 10 pounds of cheese and 12 boxes of crackers each month. A pound of cheese costs $5 and a box of crackers costs $3. If she is maximizing her utility, what is her monthly income?
B. $90
C. $80
D. There is not enough information to determine her monthly income.
A. $86
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The interest elasticity of money demand is estimated to be
A) small in absolute value. B) large in absolute value. C) highly volatile. D) not statistically different from zero.
Which of the following schematics most accurately represents economic fluctuations during a business cycle?
A) Shock -> Spending response by households and firms -> Multiplier effect -> Change in real GDP B) Shock -> Multiplier effect -> Spending response by households and firms -> Change in real GDP C) Shock -> Multiplier effect -> Change in real GDP -> Spending response by households and firms D) Shock -> Change in real GDP -> Spending response by households and firms -> Multiplier effect
Bitcoin:
a. Is a physical currency that can be converted freely into a wide variety of virtual and (other) real currencies? b. Virtual currency that keeps track of Bitcoin owners and users by means of a clearing house called Mt. Gox. c. Is a virtual currency that publishes online the details on all its customers' addresses but manages to keep customers' identities secret by not publishing any facts related to their transactions? d. Is a virtual, peer-to-peer currency.
All sellers may be tempted to raise the price of what they sell, but a negative unintended effect of raising the price could be __________ in units sold large enough to __________ the seller's total revenue earned
A) an increase; raise B) an increase; lower C) a decrease; raise D) a decrease; lower