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23 Jul 2018

47) The post-trade US consumption bundle (C, W) is: A) (1,9) B) (3,6) C) (3,7) D) (0, 11) E) (3,5)

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Lelia Lubowitz
Lelia LubowitzLv2
24 Jul 2018
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Related questions

Tommy Twit's mother measures the departure of any bundle from her favorite bundle for Tommy by the sum of the absolute values of the differences. Her favorite bundle for Tommy is (3,5), that is, 3 cookies and 5 glasses of milk. Tommy's mother's indifference curve that passes through the point (c,m)=(3,7) also passes through...

A. (3,9)

B. (5,5)

C. (5,7)

D. (7,7)

E. None of the above

45) If the post-trade UK production bundle is (CUK, WUK') = (4.0) and if it exports 2 units of C, then the UK consumption bundle will be 2 units of C and units of W: A) 2 B) 4 C) 6 D) 8 E) 24

Clara consumes goods x and y. Her indifference curves are described by the formula y=k/(x+5). Higher values of k correspond to better indifference curves. Which of the following is true?

A. Clara likes good y and hates good x.

B. Clara prefers bundle (11,13) to bundle (13,11).

C. Clara prefers bundle (7,3) to bundle (3,7).

D. Clara likes good x and hates good y.

E. More than one of the above statements is true.

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