There is an inverse relationship between the amount of labor supplied and real wages

The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $20.00 per week. Milkshakes cost $2.00 each and sodas cost $1.00 each

What quantity of sodas does Tom purchase at his consumer equilibrium? A) five B) six C) seven D) eight

A currency pegged at a value above the market equilibrium exchange rate is

A) depreciating in value relative to its pegged currency. B) achieving purchasing power parity. C) overvalued. D) undervalued.