Suppose sugar and artificial sweeteners are perfect substitutes for Sam. Her indifference curves for those two goods would be
A) downward-sloping and convex to the origin.
B) downward-sloping and straight lines.
C) L-shaped.
D) downward-sloping and concave to the origin.
B
You might also like to view...
The ________ real GDP, the ________
A) larger; larger the demand for money B) larger; smaller the demand for money C) larger; larger the supply of money D) smaller; larger the demand for money E) larger; smaller the supply of money
The collection of laws, regulatory measures, and actions concerning a particular topic that originate with some body of government is called
A) fiscal policy. B) public policy. C) private policy. D) antitrust policy.
The marginal cost curve is U-shaped. Over the range of output for which the marginal cost is falling as output increases, the marginal product is
A) increasing. B) decreasing. C) constant. D) probably changing, but there is no stable relationship between the marginal cost and the marginal product. E) not defined.
The textbook refers to the following quotation from a Federal Reserve publication:
"Trade is a win-win situation for all countries that participate." But many firms and workers oppose free-trade policies and protests against globalization have become a regular occurrence at meetings of the World Trade Organization. If trade is a "win-win" situation, why is there strong opposition to free trade and globalization?