Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. The slope of the indifference curve is the ratio of the
A. total utility of ice cream cones to the total utility of ice cream sandwiches.
B. marginal utility of ice cream sandwiches to the marginal utility of ice cream cones.
C. total utility of ice cream sandwiches to the total utility of ice cream cones.
D. marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.
Answer: D
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Which of the following is not considered part of government spending?
A) a military jet purchased by the federal government B) a nature preserve purchased by a state government C) social security payments to retirees D) teachers' salaries paid by a local government
A subgame is a simultaneous game embedded in a sequential game
Indicate whether the statement is true or false
Economists argue that rent control is a highly efficient way to help the poor raise their standard of living
a. True b. False Indicate whether the statement is true or false