Combinations of two goods along the indifference curve yield:
a. equal prices for the two goods.
b. equal marginal utilities.
c. the same total utility.
d. zero total utility.
c
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The figure above shows a labor market. If there is a monopsony in this labor market, then increasing the minimum wage from $3 per hour to $5 per hour
A) will increase the quantity of labor employed. B) will leave unchanged the quantity of labor employed. C) will decrease the quantity of labor employed. D) could increase, decrease, or leave unchanged the quantity of labor employed.
Which of the following is an example of a speculative attack on a currency?
a. National governments decide to engage in competitive devaluations against a given country. b. International organizations such as the WTO and the IMF attempt to reorder the currency's system. c. Private investors sell domestic currency and buy foreign currency, betting that the domestic currency will soon be devaluated. d. Casinos in Las Vegas allow the proliferation of bets for and against a given currency. e. A country is at war, and the enemy country "freezes" all the accounts denominated in the local currency.