If the marginal utility per dollar spent on Good X exceeds that of Good Y, the utility-maximizing consumer should:
a. buy less of Good X and more of Good Y.
b. buy less of Good Y and more of Good X.
c. buy more of both Good X and Good Y.
d. buy less of both Good X and Good Y.
b
Economics
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People can be prevented from using a good if the good is
a. a private good or a club good. b. a private good or a common resource. c. a public good or a common resource. d. a private good or a public good.
Economics
If consumer confidence falls, then aggregate demand shifts
a. right, raising the inflation rate above its previous level. b. right, lowering the inflation rate below its previous level. c. left, raising the inflation rate above its previous level. d. left, lowering the inflation rate below its previous level.
Economics