An indifference curve has a negative slope because movement along the curve requires the consumer to give up the:
a. marginal utility of one good.
b. total utility of one good.
c. marginal substitution value (MSV).
d. marginal transitivity of one good.
a
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Figure 5-10
In the indifference curve pictured in Figure 5-10, which of the following is clearly true?
a.
B is preferred to D.
b.
B is preferred to C.
c.
A is preferred to B.
d.
C is preferred to D.
Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110. This indicates the price of the market basket of goods and services is now:
A. $110. B. $1,000. C. $1,100. D. $1,225.
Recall the Application about the impact Chinese imports have on U.S. labor markets to answer the following question(s).According to the Application, did Autor, Dorn and Hanson's study show that trade with China not beneficial to the United States?
A. No, the study did not look into the additional opportunities of U.S. firms to export into China. B. Yes, communities exposed to imports from China had high unemployment rates. C. Yes, communities exposed to exports to China had high unemployment rates. D. Yes, communities exposed to imports from China had lower inflation rates.
The ________ plots the relationship between prices and the quantity producers are willing to sell
A) isoquant B) indifference curve C) demand curve D) supply curve