If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis the indifference curves:
A) will be straight lines with a slope of -1/2.
B) will be straight lines with a slope of -1.
C) will be straight lines with a slope of +1/2.
D) will be right angles whose corners occur on a ray from the origin with a slope of +2.
E) none of the above
A
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In the United States, corporate profits are taxed
A) at both the corporate level and when investors receive dividends. B) only when investors receive dividends. C) only at the corporate level. D) neither at the corporate level nor when investors receive dividends.
If Bob's business earned a $500,000 accounting profit, but had $1,000,000 in implicit costs, it would earn an economic profit
a. True b. False Indicate whether the statement is true or false
One way that central banks can maintain their credibility is by ______.
a. hiring an unknown outsider to lead them b. becoming heavily involved in politics c. avoiding disclosing an inflation target d. maintaining independence from other government entities
Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):
a. flattening of the curve.
b. movement from one point to another point along the curve.
c. outward shift of the curve.
d. movement from a point on the curve to a point inside the curve.