The income-consumption curve for Dana between Qa and Qb is given as: Qa = Qb. His budget constraint is given as: 120 = Qa + 4Qb How much Qa will Dana consume to maximize utility?

Suppose all tickets to the World Series have already been sold. Will any further sales occur if the going price rises?

A) No, and therefore a higher price will have no effect. B) No, but a smaller quantity will be demanded. C) Not unless more tickets are printed. D) Yes, as some ticket-holders sell to others. E) Yes, but the further sales will reduce the price to the original level.

The Chairman of the Fed is appointed by Congress and serves three consecutive 4-year terms unless removed for misconduct

Indicate whether the statement is true or false