An increase in income shifts indifference curves outward
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In the postwar era, the federal budget has typically been ________
A) balanced B) in surplus C) in deficit D) the largest component of Gross Domestic Product
Alan could most directly apply the principles of economic decision making with respect to his job when:
A. deciding how to spend his paycheck. B. deciding which girl to marry. C. deciding what to have for dinner after a long day at work. D. deciding which route on his way to work is the most scenic.
The more human capital you have, the more likely you will:
A. be unemployable. B. earn more money. C. not benefit from specializing. D. All of these are true.
A social system could eliminate profits and losses if it could
A) eliminate greed and selfishness. B) eliminate uncertainty. C) fix all prices to reflect opportunity costs. D) fix all prices to reflect the value of the labor embodied in goods. E) tax all receipts above cost and redistribute them to firms unable to cover all their costs.