The economic way of thinking suggests competition and cooperation are
A) incompatible.
B) mutually destructive.
C) present in any society.
D) only present in a capitalist market economy.
C
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When cost-push inflation starts, real GDP ________ and the unemployment rate ________
A) decreases; falls B) does not change; falls C) decreases; rises D) does not change; does not change E) increases; falls
Refer to the table below. If the price of B falls to $1, while the price of A and the consumer's income stay the same, what would be the utility-maximizing combination of goods A and B?
The table below shows the marginal-utility schedules for goods A and B for a hypothetical consumer. The price of good A is $1 and the price of good B is $2. The income of the consumer is $8.
A. 5 A and 3 B
B. 4 A and 4 B
C. 3 A and 5 B
D. 2 A and 6 B