The property that a person owns at the time of her death is her estate.
Answer the following statement true (T) or false (F)
True
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The curve in the above figure shows alternative combinations of gasoline and coffee that Sam likes equally well. This curve is called
A) a budget line. B) a demand curve. C) a consumption curve. D) an indifference curve.
In the above figure, the area of rectangle ABHG represents the monopolist's
A) maximized economic profits. B) maximized total revenue. C) average total profits. D) total costs.
Kimberly decides to go back to college full time at the age of 30, and finds herself with a much lower income than she was earning before. Now that she has less income, she finds herself eating less steak and more pasta than ever before. We can conclude:
A. steak and pasta are both normal goods, because they are both food she eats regardless of her income. B. steak and pasta are both inferior goods, because they are both food she eats regardless of her income. C. pasta is an inferior good because her demand increased when her income went down. D. steak and pasta are both inferior goods, because they are both food she eats regardless of her income; also, pasta is an inferior good because her demand increased when her income went down.
An example of an excludable good or service is a:
A. movie in a theater. B. city park. C. rainbow. D. levee system.