Stitution c) A consumer has an income of C50. He can choose any combination of productX
and product Y for consumption. If price of X (Px) is C5 and price of Y (Py) is C2.50
i.
Graph the budget line of the consumer.
ii. Find the market rate of substitution.
iii.
What is the maximum quantity of Y that he can purchase? Show how it
changes when the price of good X decreases from C2.50 to C2 If the income
goes up to €75, then how will the budget line change?
iv.
Find the maximum quantity of Y that he can purchase with the new budget,
(5 mark)

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.

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

Computing equivalent units is especially important for: (a) goods that take a relatively short time to produce, such as plastic bottles. (b) goods with sustainability implications in their production processes. (c) goods that are started and completed during the same period. (d) goods that take a long time to produce, such as airplanes.