Bob Toshida has the demand schedule for dress shirts shown in the table below.
A) His total utility from three shirts would be _____.
B) His marginal utility from the fourth shirt would be _____.
C) If the price were $3, his consumer surplus would be _____.
A) $36
B) $6
C) $45 - $15 = $30
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Keynes argued that the precautionary component of the demand for money was primarily determined by the level of people's ________, which he believed were proportional to ________
A) incomes; wealth B) incomes; age C) transactions; income D) transactions; age
The unemployment rate that many economists believe represents full employment is
a. 0 percent. b. 0-4 percent. c. 4-6 percent. d. 6-8 percent. e. 8-10 percent
A basket of goods costs $800 in the U.S. In Belgium the basket of goods costs 640 euros and the exchange rate is .80 euros per U.S. dollar. In Japan the basket of goods costs 90,000 yen and the exchange rate is 90 yen per dollar. Which country has purchasing-power parity with the U.S.?
a. both Belgium and Japan b. Belgium but not Japan c. Japan but not Belgium d. neither Belgium nor Japan
There is ________ connection between the strength of a country's currency and the strength of its ________.
A. a solid; real wage growth B. an inverse; central bank independence C. a direct; economy D. no simple; economy