Indifference curve slopes upward from left to right because consumers always prefer more of a good to less
a. True
b. False
Indicate whether the statement is true or false
False
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We go from personal income to personal disposable income by
A) subtracting undistributed profits. B) adding transfer payments. C) subtracting personal income taxes. D) subtracting depreciation. E) subtracting personal saving.
The Bretton Woods agreements in 1944
a. established the International Monetary Fund. b. sanctioned world trade on the gold-exchange system. c. allowed nations to devalue their currencies under certain conditions. d. All of the above are correct.
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In Exhibit 3-15, if the market price of good X is initially $1.50, a movement toward equilibrium requires:
A. no change, because an equilibrium already exists. B. the price to fall below $1.50 and both the quantity supplied and the quantity demanded to fall. C. the price to remain the same, but the supply curve to shift to the left. D. the price to fall below $1.50, the quantity supplied to fall, and the quantity demanded to rise.
Observational studies make an attempt to influence some variables in order to observe how changes in these variables affect outcomes.
Indicate whether the statement is true or false