When your budget line is just tangent to your indifference curve, you are at the point on the budget line that you least prefer
Indicate whether the statement is true or false
FALSE
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If the stock price of a company is higher than the discounted value of its future earnings,
a. Buy the stock only if the company has a sustained competitive advantage b. Don't buy the stock, even if the company has a sustained competitive advantage c. Always buy the stock d. None of the above
Which of the following statements is not correct?
a. A gasoline tax can be an example of a tax that uses the benefits principle. b. A progressive tax attempts to achieve vertical equity. c. A progressive tax can be an example of the ability-to-pay principle. d. A regressive tax attempts to achieve vertical equity.
An inverse relationship between the rate of interest and the level of:
a. Investment spending is suggested by the investment-demand curve b. Employment is suggested by the aggregate demand curve c. Income is suggested by the consumption function d. Prices is suggested by the aggregate supply curve
A demand curve with continuously changing slope over all quantity values will always have a constant price elasticity of demand.
Answer the following statement true (T) or false (F)