Curve tracing the utility maximizing combinations of two goods as the price of one good changes.
Answer: Price consumption curve
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As a monopolist expands its output:
A) the difference between the demand curve and the marginal revenue curve decreases. B) the difference between the demand curve and the marginal revenue curve increases. C) the slope of the demand curve decreases, while the slope of the marginal revenue curve increases. D) the slope of the demand curve increases, while the slope of the marginal revenue curve decreases.
The "big tradeoff" refers to the tradeoff between
A) work and leisure. B) equity and efficiency. C) public goods and private goods. D) taxes and transfers.
One year a country has positive net exports. The next year it still has positive but larger net exports
a. its trade surplus fell. b. its trade surplus rose. c. its trade deficit fell. d. its trade deficit rose
Related to the Economics in Practice on p. 630: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s may have increased patent rates in their fields of chemistry by
A. up to 5%. B. 15%. C. more than 30%. D. over 100%.