If American and Japanese consumers buy the same basket of goods in each country and there is no inflation in either country,
A) the law of one price will hold.
B) deviations from PPP will occur.
C) PPP will hold.
D) Both A and C.
D
Economics
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Refer to the information provided in Table 6.3 below to answer the question(s) that follow. Table 6.3Dozens of Oysters per DayTotal UtilityMarginal Utility160?2104?3134?4152?5?8Number ofBeers per DayTotal UtilityMarginal Utility140?270?394?4114?5?14Refer to Table 6.3. The marginal utility of the third dozen oysters per day is
A. 10. B. 30. C. 44. D. 134.
Economics
The slope of an indifference curve for products X and Y is the ratio of the marginal utility of product X to the marginal utility of product Y.
Answer the following statement true (T) or false (F)
Economics