With respect to consuming food and shelter, two consumers face the same prices and both claim to be in equilibrium. We therefore know that
A) they both have the same marginal utility for food.
B) they both have the same marginal utility for shelter.
C) they both have the same MRS of food for shelter.
D) All of the above.
C
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A noncooperative outcome after the center nation has undertaken a stabilization policy in response to an asymmetric shock would be that the:
A) center country abandons its own stabilization policy in favor of the home country. B) home country absorbs the losses resulting from the stabilization policy in the center country. C) center country makes concessions, recognizing the impact on the home country and thereby sharing the pain. D) peg is temporarily abandoned.
Jim is haggling with a car dealer on the price of a used car. If the dealer is getting a bonus per sale made, in addition to the commission, Jim is more likely to be able to
a. Get the car cheap b. Pay a higher price for the car c. Walk away from the deal d. All of the above