Author Question: In the figure above, the lowest 20 percent of all households own ________ percent of all wealth, the ... (Read 83 times)

Mr3Hunna · **on:** Jun 29, 2018

In the figure above, the lowest 20 percent of all households own ________ percent of all wealth, the next lowest 20 percent own ________ percent of all wealth and the richest 20 percent own ________ percent of all wealth.

A) 20; 20; 20
B) 20; 40; 100
C) 5; 15; 40
D) 5; 20; 60

Question 2

Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose that Teddy's marginal utility per dollar from cookies exceeds that from hot chocolate. Teddy can make himself better off if he buys

A) more cookies and less hot chocolate.
B) fewer cookies and more hot chocolate.
C) an equal amount of cookies and hot chocolate.
D) only hot chocolate.