If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the base year is

The analysis in Chapter 15 implies that the housing bubble of the last decade would likely have been avoided if

A) the Fed had pursued a monetary equilibrium policy as opposed to cheap interest rate policies. B) people weren't as greedy as they were during the beginning and middle of the bubble. C) price controls were established to keep home prices from rising as high as they did. D) markets were better regulated.

Suppose that Janis is maximizing her total utility from chairs and tables. If the marginal utility of the last table she purchased is 200 utils, and the prices of chairs and tables are $50 and $100, respectively, then the marginal utility of the last chair she purchased

a. is 100 utils b. is 400 utils c. is 200 utils d. is 50 utils e. cannot be determined without more information