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Angela consumes only two goods, x and y. Her income doubles and the prices of the two goods remain unchanged. Assuming that she is a utility maximizer and likes both goods,
a. she will consume more of both goods.
b. the ratio of her consumption of x to y remains constant.
c. her utility doubles.
d. if her preferences are convex, she must consume more x.
e. None of the above.
Suppose U.S. interest rates decline compared to the rest of the world. What would be the likely impact on the demand for dollars, supply of dollars, and exchange rate for dollars compared to, say, euros?
What sort of relationship would you expect to see between the price of bonds and the interest rate?
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Describe the profit-maximizing amounts of electricity to produce at the two facilities, the optimal price, and the utility company's profits.
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