Use the following information to answer the next question.Maya purchases only three products; orange juice, prepared meals, and on-demand episodes of her favorite shows. Each week she purchases 2 bottles of orange juice, 14 prepared meals, and 8 on-demand episodes. The prices of bottles of orange juice, prepared meals, and on-demand episodes for four different years are shown in the table below.YearPrice of Orange JuicePrice of Prepared MealsPrice of On-Demand Episodes1$2$6$102$6$5$123$4$7$134$4$8$11Based on this information, which of the following statements is true?
A. Maya spent $10 less in Year 1 than in Year 2.
B. Maya's buying power increased between Year 1 and Year 4.
C. There was inflation from Year 3 to Year 4.
D. Maya's purchases cost $30 more in Year 3 than in Year 2.
Answer: A
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Aggregate planned expenditure is less than actual expenditure if real GDP is
A) less than $700 billion. B) more than $800 billion. C) $800 billion. D) less than $800 billion. E) more than $700 billion.
Sue's Sea Shells by the Sea Shore is a perfectly competitive firm selling sea shells at the market price of $2 per dozen. Sue's Sea Shells by the Sea Shore has fixed costs of $40 per day and a variable cost schedule in the table above
The profit-maximizing level of output for Sue's Sea Shells by the Sea Shore is A) 202 dozen sea shells by the sea shore per day. B) 204 dozen sea shells by the sea shore per day. C) 205 dozen sea shells by the sea shore per day. D) 206 dozen sea shells by the sea shore per day.