Owen and Simon both like playing with balls and cars. Suppose B represents the number of balls, and C represents the number of cars. If Owen's utility function can be given by U(B, C) = 10B + 5C, and Simon's utility function can be given by U(B, C) = 6B + 6C, which of the following trades would benefit Simon but not Owen?
A. Owen gives Simon 3 cars in exchange for 2 balls
B. Owen gives Simon 2 cars in exchange for 3 balls
C. Owen gives Simon 3 balls in exchange for 2 cars
D. Owen gives Simon 2 balls in exchange for 3 cars
C. Owen gives Simon 3 balls in exchange for 2 cars
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In the above figure, the economy is at point A when changes occur. If the new equilibrium has a price level of 100 and real GDP of $15.0 trillion, then it must be the case that
A) aggregate demand has increased. B) aggregate demand has decreased. C) aggregate supply has decreased. D) aggregate supply has increased.
Privatization is the
a. process of turning private enterprises into public enterprises b. the same as nationalization c. process of turning public enterprises into private enterprises d. process of turning state-owned enterprises into public enterprises e. process of turning sole proprietor enterprises into corporate enterprises