Refer to the table below. If the consumer buys both product X and product Y, how much will the consumer buy of each in order to maximize utility?
Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4 and the price of product Y is $2. The income of the consumer is $20.
A. 4X and 2Y
B. 3X and 4Y
C. 4X and 3Y
D. 5X and 3Y
B. 3X and 4Y
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Which of the following has NOT been a criticism of the "convergence process" for joining the Eurozone?
A) Although challenging, the process fully transforms inflation-biased nations into fiscal and monetary conservatives. B) Policies forced on applicants to monetary union are politically costly, so the interim peg may not be fully credible and may generate exchange rate crises. C) The fiscal rules are seen as inflexible and arbitrary. D) Once a nation has met the criteria, its commitment to fiscal discipline may wane.
Paint and paintbrushes are complements. If the price of paint increases, then
A) the demand for paintbrushes will increase. B) the demand for paintbrushes will decrease. C) the demand for paint will increase. D) the demand for paint will decrease.