Clifford lives by the motto "Eat drink and be merry today, for tomorrow doesn't matter
" If today's consumption is represented by "x" and tomorrow's consumption is represented by "y", then which of the following best represents Clifford's utility function? A) U = x - y
B) U = x/y
C) U = x
D) U = y
C
Economics
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An increase in the price level shifts the AE curve
A) upward and shifts the AD curve leftward. B) upward and shifts the AD curve rightward. C) downward and shifts the AD curve rightward. D) downward and does not shift the AD curve. E) downward and shifts the AD curve leftward.
Economics
A proposition about the relationship between two variables that can be proven false is called:
A) a hypothesis. B) a law. C) a theory. D) the scientific method.
Economics