Under standard assumptions, which of the following is not a property of indifference curves?
a. They are downward sloping and convex.
b. They fill the plane and never cross.
c. Their slope is equal, in magnitude, to the relative price of the goods.
d. Baskets on indifference curves further away from the origin provide more satisfaction than those which are closer to the origin.
c. Their slope is equal, in magnitude, to the relative price of the goods.
You might also like to view...
Even if the population declines, scarcity will still exist
Indicate whether the statement is true or false
A country has a trade deficit when
A) imports exceed exports. B) imports equal exports. C) exports exceed imports. D) exports are zero.
Suppose the economy is on the intermediate range of the aggregate supply curve. Which of the following would reduce both real GDP and the price level?
a. A decrease in aggregate supply. b. An increase in aggregate supply. c. A decrease in aggregate demand. d. An increase in aggregate demand.
Another way of saying "ceteris paribus" is:
A. Other things equal B. In general C. In reality D. Because of this