Refer to the information provided in Figure 6.10 below to answer the question(s) that follow. Figure 6.10Refer to Figure 6.10. The current price of a turkey sandwich is $4. If Kyle is currently buying seven turkey sandwiches a week, he ________ maximizing utility because the marginal utility ________ than its price.

Which of the following statements is true?

(a) larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be less open than developed economies. (b) larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be less open than developed economies. (c) larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies. (d) larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies.

The aggregate supply schedule is steeper where the money wage is more variable than where the money wage is fixed because the rise in the money wage in the

a. fixed-wage case dampens the effect on employment and output from an increase in the price level. b. variable-wage case dampens the effect on employment and output from an increase in the price level. c. variable-wage case heightens the effect on employment and output from an increase in the price level. d. all of the above