When Joe maximizes utility, he finds that his MRS of X for Y is greater than Px/Py. It is most likely that:

In the market for cell phones, which of the following events increases the supply of cell phones?

A. New technology lowers the cost of making a cell phone B. Rise in the price of an e-book reader (a substitute in production) C. An increase in people's incomes D. A rise in the wage rate paid to electronics workers

In the open-economy macroeconomic model, the market for loanable funds equates national saving with

a. domestic investment. b. net capital outflow. c. national consumption minus domestic investment. d. None of the above is correct.