Information about preferences is ordinal if:
A. the information tells us something about the intensity of the consumer's preferences.
B. the information allows us to make comparisons between the preferences of different consumers.
C. the information allows us to determine only whether one alternative is better or worse than another.
D. the information allows us to make comparisons between the preference of the same consumer at different points in time.
C. the information allows us to determine only whether one alternative is better or worse than another.
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A barrier to entry is
A) the economic term for diseconomies of scale. B) illegal in most markets. C) anything that protects a firm from the arrival of new competitors. D) a factor that increases competition because firms must continue to operate in the market in which they were founded. E) the same as rent seeking.
Suppose a tax on buyers has been imposed in the graph shown. Once the tax is in place, the sellers experience:
A. a decrease in supply.
B. an increase in supply.
C. a decrease in quantity supplied.
D. an increase in quantity supplied.
If a customer deposits $10,000 into a bank, how much money would the bank be capable of lending to an eligible loan applicant if this bank retains 20 percent of the deposit to cover withdrawals?
(A) About $9,000 (B) About $8,000 (C) About $2,000 (D) About $7,000
A decrease in the marginal tax rate on asset income in the short run in the market clearing model:
a. raises the stock of capital b. reduces the market clearing rental price of capital. c. does not change real GDP. d. all of the above.