A typical indifference curve
A. shifts out if income increases.
B. shows that as a consumer has more of a good he is less willing to exchange it for one unit of another good.
C. shows all combinations of goods that give a consumer the same level of utility.
D. both a and b
E. all of the above
Answer: C
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If net exports are equal to net foreign investment, which of the following is not true?
A) The balance on the financial account is zero. B) The current account balance is equal to the negative of the financial account balance. C) Net capital inflows are equal to imports minus exports. D) The balance of payments is zero.
Under fractional banking, when a bank lends to a customer
a. the money supply increases. b. bank profitability is decreased. c. the bank is protected from a run. d. bank credit decreases.
The Federal Open Market Committee oversees the buying and selling of:
a) government securities. b) foreign currencies. c) imports. d) corporate debt.
In the above table, marginal product becomes negative when employing the
A. fourth worker. B. second worker. C. third worker. D. fifth worker.