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7. If utility is given by , then the person's MRS at the point x = 5, y = 2 is given by:
a. 0.4. b. 1.0. c. 2.5. d. 5.0.
ANSWER: a
POINTS: 1
9. Which of the following utility functions best represents the idea that two goods, x and y, are perfect
complements?
a. b. c.
d.
ANSWER: d
POINTS: 1
11. If utility is given by then the bundle (3, 2) provides the same utility as the bundle:
a. (1, 3). b. (2, 3). c. (4, 1). d. (4, 2).
12. Which of the following utility functions would not be consistent with the notion that x and y are both "goods"
with positive marginal utilities?
a.
b. c.
d.
ANSWER: d
POINTS: 1
Samuel Adams,
John Adams,
Massachusetts Bay.
Robert Treat Paine,
Elbridge Gerry.
Stephen Hopkins,
Rhode Island, etc.
William Ellery.
Roger Sherman,
Samuel Huntington,
Connecticut.
William Williams,
Oliver Wolcott.
William Floyd,
Philip Livingston,
New York.
Francis Lewis,
Lewis Morris.
Richard Stockton,
John Witherspoon,
New Jersey. Francis Hopkinson,
John Hart,
Abraham Clark.
Robert Morris,
Benjamin Rush,
Benjamin Franklin,
John Morton,
Pennsylvania. George Clymer,
James Smith,
George Taylor,
James Wilson,
George Ross.
Cesar Rodney,
Delaware. George Read,
Thomes McKean.
Samuel Chase,
William Paca,
Maryland.
Thomas Stone,
Charles Carroll, of Carrollton.
George Wythe,
Richard Henry Lee,
Thomas Jefferson,
Virginia. Benjamin Harrison,
Thomas Nelson, jr.,
Francis Lightfoot Lee,
Carter Braxton.
William Hooper,
North Carolina. Joseph Hewes,
John Penn.
Edward Rutledge,
Thomas Heyward, jr.,
South Carolina.
Thomas Lynch, jr.,
Arthur Middleton.
Button Gwinnett,
Georgia. Lyman Hall,
George Walton.
Resolved, That copies of the Declaration be sent to the several
assemblies, conventions, and committees or councils of safety, and to
the several commanding officers of the Continental Troops: That it
be PROCLAIMED in each of the United States, and at the Head of the
Army.—[Jour. Cong., vol. 1, p. 396.]
Articles of Confederation.
ARTICLES OF CONFEDERATION.