A coincident indicator will change before a recession begins
a. True
b. False
Indicate whether the statement is true or false
False
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When tariffs on imports are eliminated, everyone benefits.
Answer the following statement true (T) or false (F)
In a kinked demand market, whenever one firm decides to lower its price,
a. other firms will automatically follow. b. none of the other firms will follow. c. one half of the firms follow and one half of the firms don't follow the price cut. d. other firms all decide to exit the industry e. all of the other firms raise their prices.
The marginal rate of substitution is
a. the slope of a budget constraint. b. always constant. c. the slope of an indifference curve. d. the point at which the budget constraint and the indifference curve are tangent.
A risk-averse person has
a. utility and marginal utility curves that slope upward. b. utility and marginal utility curves that slope downward. c. a utility curve that slopes down and a marginal utility curve that slopes upward. d. a utility curve that slopes upward and a marginal utility curve that slopes downward.