Answer:
C andD
Explanation:
When the Fed makes open-market sales there will be increase in currency and reserves
Answer to question 2
D. both unemployment and the price level.
Answer:
D product
Explanation:
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Answer: $25
Explanation:
The Dictator game is used to measure just how much a person will act out of self interest especially give their surrounding. One person will be the dictator and the other a recipient who would be a stranger. The dictator will decide how much they are to give the recipient.
You live in a culture where you do not have to buy food and as this is a significant expense for humans, it means that you do not need much money. Regardless of this however, it has been shown that people would not give out the majority of their money which means that you would not give out 50% or above of the money.
As 50% is $25 here, that would be the correct option.
Answer: Explanation:
The marginal rate of substitution of peaches for avocados is the maximum amount of avocados that a person is willing to give up to obtain one additional peach. When consumers maximize utility, they set their MRS equal to the price ratio, Pp/PA
where
,
P
p is the price of a peach and
PA is the price of an avocado.
In Georgia, avocados cost twice as much as peaches, so the price ratio is ½ , but in California, the prices are the same, so the price ratio is 1. Therefore, when consumers are maximizing utility (assuming they buy positive amounts of both goods), the marginal rates of substitution will not be the same for consumers in both states. Consumers in California will have an MRS that is twice as large as consumers in Georgia.
