An indifference map states:
a. indifference curves farther from the origin yield higher levels of total utility.
b. that the consumer's income varies with the level of the indifference curve.
c. indifference curves closer to the origin yield higher levels of total utility.
d. that the points on either parts of indifference curves are preferred to the midpoint.
a
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Uniform standards
a. are not relevant to mobile source controls b. refer to standards that remain the same over time c. have been shown to be more costly than a two-tiered standard on motor vehicles d. achieve an allocatively efficient outcome
If a technological advance makes it possible to produce computers at a lower cost
A) the demand for computers decreases. B) the demand for computers increases. C) the supply of computers increases. D) the supply of computers decreases.
During the Great Depression, the unemployment rate rose to a maximum of about
A) 10 percent. B) 25 percent. C) 50 percent. D) 13 percent. E) 67 percent.
The European Union's Common Agricultural Policy (CAP) is, in effect
A) a tariff imposed on agricultural exports. B) a tariff imposed on agricultural imports. C) a subsidy that reduces the cost of agricultural exports. D) a subsidy that increases the cost of agricultural exports. E) a quota that limits production of agricultural goods by EU nations.