Exhibit 6A-4 Consumer equilibrium
?
Given the budget line and indifference curves shown in Exhibit 6A-4, point E is:
A. inferior to point X.
B. lowest attainable level of total utility.
C. consumer equilibrium.
D. unobtainable.
Answer: D
Economics
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Government intervention in agricultural markets in the U.S. began
A) during the Korean War. B) during World War II to ensure that enough food was available for domestic consumption. C) after World War I in order to assist farmers to adjust from a war-time economy to a peace-time economy. D) during the Great Depression.
Economics
The Friedman-Phelps analysis suggests that there is a long-term relationship between
A. inflation and unemployment. B. unanticipated inflation and cyclical unemployment. C. cyclical inflation and structural unemployment. D. anticipated inflation and structural unemployment.
Economics