Reginald is fond of cigars. His utility function is U (x; c) = x+ 10c:5c 2 where c is the number
of cigars he smokes per week and x is the money that he spends on consumption of other goods.
Reginald has $200 a week to spend. Cigars used to cost him $1 each, but their price went up to $2
each. This price increase was as bad for him as losing the following amount of income

You are at a holiday dinner with your family. your relative makes the argument that the u. s. economy is resurgent and has recovered from the great recession of 2007 – 2009. economic growth, as measured by gdp, has been increasing from one quarter to the next. you beg to differ. how would you structure your argument with your relative? hint: you should think about two things, the accuracy of gdp measures, and whether gdp should be considered a comprehensive measure of a countries well-being.

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.