Among all the combinations of goods attainable by a consumer facing a budget constraint, the one that maximizes total utility is the one that
a. maximizes marginal utility per dollar spent on each good
b. maximizes marginal utility per pound, or other physical quantity, of each good
c. equates the marginal utilities per dollar spent on each good
d. equates the marginal utilities per pound, or other physical quantity, of each good
e. drives the marginal utility of each good to zero
C
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Which of the following criticisms is NOT directed to the IMF?
A) It lacks openness in its decision-making process. B) It serves the interests of wealthier countries. C) It creates a free-riding problem. D) It violates national sovereignty. E) It is heavily bureaucratic and at times gives harmful advice.
At the time of the South Korean financial crisis, the government allowed many chaebol owned finance companies to convert to merchant banks. Finance companies ________ allowed to borrow abroad and merchant banks ________
A) were not; could borrow abroad B) were not; could not borrow abroad C) were; could borrow abroad D) were; could not borrow abroad