Refer to the scenario above. If both individuals are offered movie tickets worth 40 utils today instead of the gift voucher, then which of the following statements is true?
A) Both Susan and Jim will prefer to retain the gift voucher.
B) Both Susan and Jim will prefer the movie tickets over the gift voucher.
C) Susan will prefer the gift voucher, while Jim will prefer the movie ticket.
D) Jim will prefer the gift voucher, while Susan will prefer the movie ticket.
C
Economics
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According to your textbook, a "free" good is
A) a good paid for by someone else. B) a stolen good. C) a good given away by charities. D) a good obtained without any sacrifice whatsoever.
Economics
By using only the aggregate demand curve, we can determine
A) only the price level. B) only the quantity of real GDP. C) both the price level and quantity of real GDP. D) neither the price level nor the quantity of real GDP.
Economics