Exhibit 6-6 Marginal utility for data for clothes and amusement
Quantity
Clothes
Amusement
1
15
20
2
13
18
3
10
15
4
8
12
5
6
10
Refer to Exhibit 6-6. Clothes and amusements are priced at $10 each. If you had a budget of $50, which of the following combinations of goods would you buy?
A. 4 units of clothes and 1 unit of amusement.
B. 3 units of clothes and 2 units of amusement.
C. 2 units of clothes and 3 units of amusement.
D. 1 unit of clothes and 4 units of amusement.
Answer: C
Economics
You might also like to view...
Members of the Federal Reserve System's Board of Governors
A) are elected for life. B) hold 14-year staggered terms. C) are a special subcommittee of the Senate. D) are elected at large by district banks.
Economics
Refer to Figure 26-11. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, the Federal Reserve would most likely
A) decrease interest rates. B) not change interest rates. C) decrease the inflation rate. D) increase interest rates.
Economics