Which of the following is FALSE about indifference curves?
A. They can shift.
B. They intersect.
C. They are downward sloping.
D. They are convex to the origin.
Answer: B
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Explain the effect of the following changes on equilibrium price and quantity of a commodity: (a) increase in average incomes. (b) increase in population.
What will be an ideal response?
When a country's export spending exceeds import spending, the country is experiencing a:
A) trade deficit. B) trade surplus. C) budget deficit. D) none of the above.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
What would be the value of an option on a stock that sells at a fixed price with a standard deviation of zero? Explain.
What will be an ideal response?