Figure 30-3 -Refer to Figure 30-3. at What Level Should the Thai

question 10

Multiple Choice

Figure 30-3
-Refer to Figure 30-3. At what level should the Thai government peg its currency to the dollar to make Thai exports cheaper to the United States?

• A) greater than $.03/baht
• B) less than $.03/baht
• C) equal to $.03/baht
• D) $1/baht

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Definitions:

Total Utility

The total satisfaction received from consuming a certain amount of goods or services.

Corn Dogs

A popular snack consisting of a hot dog coated in a thick layer of cornmeal batter and deep-fried.

Marginal Utility

The additonal satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Total Utility

The total satisfaction or benefit gained from consuming a particular quantity of goods and services.