For a typical consumer, most indifference curves are downward sloping
a. True
b. False
Indicate whether the statement is true or false
True
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Why, in the U.S., do professional soccer players command a far lower salary than professional baseball players?
A) Soccer is in much less demand. B) Soccer costs less to manage and perform compared to baseball. C) Soccer has yet to mature. D) The baseball players prefer lobbied to keep soccer salaries low.
Rent controls are an example of a
A) price floor. B) price ceiling. C) price floor for the consumer and a price ceiling for the producer. D) nonprice rationing device.
Some countries have inflation around or in excess of 8 percent. Suppose that the sacrifice ratio is 2.5 . What is the cost of reducing inflation from 8 percent to 2 percent? In your answer, define the sacrifice ratio and explain how you found the cost of inflation reduction
The Forex is the smallest market in the world ?
A. True B. False