An indifference curve is:
a. downward sloping and concave to the origin.
b. downward sloping and convex to the origin.
c. upward sloping and concave to the origin.
d. upward sloping and convex to the origin.
b
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Robert applied for health insurance but did not mention in the application form that his family has a history of heart ailments that are considered to be hereditary. What will happen if several customers like Robert purchase the insurance?
What will be an ideal response?
The table above gives the utility Andy receives from different quantities of vanilla ice cream cones. Complete the table
What will be an ideal response?
In a two good, two-country world, a country has a comparative advantage in any good for which it has a:
a. lower absolute cost than the other country. b. lower opportunity cost than the other country. c. higher absolute cost than the other country. d. higher opportunity cost than the other country.
Banks can borrow reserves from each other through:
A. open market purchases. B. secondary reserves. C. the Fed funds market. D. the Federal Open Market Committee.