When quantities of two goods belong to the same indifference curve, which of the following is true?
a. The combinations of the two goods along the indifference curve yield the same total utility.
b. Prices of the two goods are equal.
c. Marginal utilities of both goods are equal.
d. The total utility of all combinations above the curve equal zero.
a
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A minimum wage law is predicted to produce
a. higher unemployment among young and inexperienced workers. b. higher unemployment among all workers. c. lower unemployment among young and inexperienced workers. d. increased hiring of young and inexperienced workers.
Which does M1 include?
a. Coins and currency in circulation, checkable deposits, and credit cards b. Coins and currency in circulation, checkable deposits, and savings accounts c. Coins and currency in circulation checkable deposits, and traveler’s checks d. Coins and currency in circulation, coins and currency owned by banks, and traveler’s checks