For a given level of total utility, ________
A) there is exactly one indifference curve
B) there are exactly two indifference curves
C) there are exactly three indifference curves
D) there are exactly four indifference curves
A
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You travel to Paris and pay for a $100 dinner with your credit card. How is this accounted for in the balance of payments?
A) current account, French service import B) current account, U.S. good export C) financial account, U.S. asset export D) financial account, U.S. asset import E) financial account, French asset export
Which of the following is an obstacle to economic development?
A) poorly defined property rights B) foreign direct investment C) immigration D) openness to trade
An asset-price bubble is caused by:
A. people buying assets because they believed prices would keep going up and they'd be able to sell for a profit. B. fads that make owning a certain asset fashionable. C. severe inflation within a short period of time. D. the increase in the value of durable goods when the economy is experiencing low inflation.
All of the following are examples of constraints faced by decision makers, except one. Which is the exception?
a. income for a consumer b. natural resources for a firm c. time for a laborer d. consumer wants e. wealth for a consumer