Suppose That Julia Receives a $20 Gift Card for the Local

question 52

Multiple Choice

Suppose that Julia receives a $20 gift card for the local coffee shop, where she only buys lattes and muffins. If the price of a latte is $4 and the price of a muffin is $2, then we can conclude that Julia

• A)should only buy muffins.
• B)should only buy lattes.
• C)can buy 5 lattes or 10 muffins if she chooses to buy only one of the two goods.
• D)can buy 5 lattes and 10 muffins with her $20 gift card.

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Definitions:

Quintile Distribution

A statistical measure dividing a population into five equal groups according to a particular variable, such as income or wealth.

SNAP Program

The Supplemental Nutrition Assistance Program, a federal aid program in the United States that provides food-purchasing assistance for low- and no-income people.

Temporary Assistance

Short-term aid or support provided by government or private entities to individuals or families in need, usually in the form of financial help, food, or housing.