Indifference curves are downward sloping because of the assumption of
A) completeness.
B) transitivity.
C) more is better.
D) All of the above.
C
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A government budget deficit occurs during a budget year when
A) tax revenues > government spending. B) tax revenues < government spending. C) tax revenues = government spending. D) tax revenues + government spending = personal consumption.
Which of the following economic measures is most useful in comparing different economies across the world?
a. Aggregate supply b. Total unemployment c. Gross domestic product d. Net national product e. Aggregate expenditure
If the money multiplier is approximated to be 4, then the reserve ratio must be:
A. 25 percent. B. 2.5 percent. C. 5 percent. D. 4 percent.
The bubble concept refers to
a. the buying and selling of pollution rights b. the way pollution creates a hole in the ozone layer c. pollution due to nuclear waste d. strict pollution standards for individual firms e. obligatory controls