See Scenario 4.1. Holding Daniel's income and Pd constant at $240 and $3 respectively, what is Daniel's demand curve for cake?

If an economy has aggregate output of $20 trillion, then aggregate income is

A) $10 trillion. B) $20 trillion. C) $30 trillion. D) $40 trillion.

People who spend more time and effort investigating the advantages and disadvantages of different automobile models when they go to purchase one than they do investigating the strengths and weaknesses of presidential candidates are saying, in effect, that

a. a good car is more important to their well-being than a good president. b. they expect to use the information on the merits of alternative cars to greater personal advantage than they could information on the merits of alternative presidential candidates. c. they are irrational, because the choice of a president is obviously far more important than the choice of a car. d. they do not think it matters who is elected president.