The budget line and the indifference curve are geometric devices used to provide a closer look at consumer choice
a. True
b. False
Indicate whether the statement is true or false
True
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The single best indicator of the degree of economic inequality in a country is the
a. top/bottom ratio b. Gini coefficient c. poverty rate d. Kuznets curve e. bell curve
Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $20, $20, $40, and $40 respectively. The expected value is:
a. $22 b. $24 c. $26 d. $28
In 2008–2009, Iceland and several Baltic states increased their interest rates. One would expect which of the following?
A. U.S. bond prices will fall and the dollar will appreciate. B. U.S. bond prices will rise and the dollar will appreciate. C. U.S. bond prices will fall and the dollar will depreciate. D. U.S. bond prices will rise and the dollar will depreciate.
When was the last year the United States had a budget surplus?
A. 2001 B. 2020 C. 1984 D. 1993