Question 1. Suppose Barry only drinks coffee with 1/2 teaspoon of sugar. That is, if he is consuming more coffee or more sugar in a different ratio, it does not increase his utility. Let x₁ represent coffee and x2 represent teaspoons of sugar. a) What is Barry's utility function? b) Draw two indifference curves for Barry given the utility function you outlined above. Label two points on each indifference curve.

What is Say’s law?

Draw the circular flow diagram of 4 main components (Agents) of macroeconomics and clearly show the interaction among them.

Kindly help with the questions below  1) explain the difference between the study of microeconomics and the study of macroeconomics. 2) What is the Lucas critique as used in the economy

What are the main goals of macroeconomic policy, and how are they interconnected?

Define macroeconomics.

how macroeconomics uses models?

Which of the following topics would be covered in macroeconomics? the effects of an increase in supply of steel on the airplane industry changes in the national unemployment rate the effect of interest rates on the automotive industry the way a firm maximizes profits