Carlos Has at One Time or Another Lived in Argentina

question 17

Multiple Choice

Carlos has at one time or another lived in Argentina, Bolivia, and Colombia.He buys only two goods, x and y.In Argentina the prices were ($9, $3) and he consumed the bundle (6, 7) .In Bolivia he consumed (9, 2) .In Colombia he consumed the bundle (6, 5) at the prices ($3, $3) .

• A)The Argentine bundle is directly revealed preferred to the Bolivian bundle.
• B)The Argentine bundle is indirectly revealed preferred to the Bolivian bundle.
• C)The Colombian bundle is directly revealed preferred to the Argentine bundle.
• D)The Bolivian bundle is indirectly revealed preferred to the Argentine bundle.
• E)None of the above.

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Definitions:

Choreomania

A phenomenon of mass dancing or outbreaks of group dancing that occurred in Europe, particularly during the Middle Ages.

Mass Hysteria

A phenomenon where collective illusion of a threat spreads among a population, leading to fear and irrational behavior.

Tulipmania

A period in the Dutch Golden Age where contract prices for tulip bulbs reached extraordinarily high levels and then dramatically collapsed.

Asphyxiation

A condition arising from severely deficient supply of oxygen to the body that arises from abnormal breathing.