In the Economy of Mungo, There Is a Third Person

question 2

Multiple Choice

In the economy of Mungo, there is a third person called Ike.Ike has a red income of 88 and a blue income of 30.Recall that blue prices are 1 bcu (blue currency unit) per unit of ambrosia and 1 bcu per unit of bubble gum.Red prices are 2 rcus (red currency units per unit of ambrosia and 6 rcus per unit of bubble gum.You have to pay twice for what you buy, once in red currency, once in blue currency.If Ike spends all of his blue income but not all of his red income, he must consume

• A)at least 23 units of ambrosia.
• B)exactly twice as much bubble gum as ambrosia.
• C)at least 17 units of bubble gum.
• D)at least 7 units of bubble gum.
• E)equal amounts of ambrosia and bubble gum.

---

Definitions:

Erikson's Theory

A developmental psychological theory proposing eight stages of human growth, each marked by a specific psychosocial conflict.

Personality Development

The gradual evolution of an individual's personality over time, influenced by a combination of genetic, social, and environmental factors.

Childhood

The period of life from birth to adolescence, characterized by growth, development, and learning in a young human being.

Adult

An individual who has reached maturity or the legal age of majority, typically characterized by completion of growth and development.