Which of the following statements is true about a consumer's optimal decision when indifference curves are concave?
A) Both goods are consumed.
B) No goods are consumed.
C) Only one of the goods is consumed.
D) It occurs at the point of tangency with the budget line.
C
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In sequential games,
a. Players take turns and observe their rivals choices before they make their choices b. Players take turns but don't observe their rivals choices before they make their choices c. Players move at the same time d. None of the above
The larger the fraction of an investment financed by borrowing
A) the greater the potential return and the smaller the potential loss on that investment. B) the smaller the potential return and potential loss on that investment. C) the greater the potential return and potential loss on that investment. D) the smaller the potential return and the greater the potential loss on that investment.
In the financial futures quotations, the total number of long positions outstanding is called
A) settlements. B) market activity. C) open interest. D) arbitrage.
During World War I (1914–18), the government supported the cause of labor when it
(a) reduced the work day to eight hours in all government jobs. (b) reduced the work day to eight hours in all private sector jobs. (c) enforced the eight-hour work day in all government jobs. (d) enforced the eight-hour work day in all private jobs.