This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements concerning utility as a measure for well being are false? A) ... (Read 135 times)

maychende

  • Hero Member
  • *****
  • Posts: 556
on: Jul 1, 2018
Which of the following statements concerning utility as a measure for well being are false?
 
  A) There is generally a positive relationship between income and utility.
  B) It is possible to determine which of two individuals is made happier by consuming a particular market basket.
  C) Utility is an abstract representation of an individual's degree of happiness.
  D) Cross country studies suggest that citizens in wealthier countries are happier than citizens in poorer countries.

Question 2

Suppose the nominal price of gasoline was 0.90 per gallon in 1987. To convert this value to the real price of 1987 gasoline in 2012 dollars, we should:
 
  A) multiply by the 1987 CPI and divide by the 2012 CPI.
  B) multiply by the 2012 CPI and divide by the 1987 CPI.
  C) not do anything because this is the real price in 2012 dollars.
  D) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aprice35067

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


maychende

  • Member
  • Posts: 556
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

The Sun in false-color ultraviolet image The Sun in false-color ultraviolet image
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
A typical peak-and-hold fuel-injector waveform. Most fuel injectors that measure less than 6 ohms ... A typical peak-and-hold fuel-injector waveform. Most fuel injectors that measure less than 6 ohms ...
Set the meter to read ohms (V) and measure the resistance of the relay coil. The usual reading for ... Set the meter to read ohms (V) and measure the resistance of the relay coil. The usual reading for ...
How to convert verbal statements into algebraic equations (Part 4) How to convert verbal statements into algebraic equations (Part 4)
Find the measure of angle L to the nearest degree Find the measure of angle L to the nearest degree
Video: Knee Animation

For a complete list of videos, visit our video library