An increase in income shifts indifference curves outward.
Answer the following statement true (T) or false (F)
False
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When tastes over current and future consumption are homothetic, the interest rate elasticity of savings supply is positive.
Answer the following statement true (T) or false (F)
Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table.Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 If Ben's fixed cost rises, then in the short run, his:
A. profit-maximizing level of output will not change. B. profit-maximizing level of output will fall. C. economic profit will not change. D. profit-maximizing level of output will rise.
A fiduciary monetary system ultimately rests on
A. the power of the government. B. the value of the assets backing up the system. C. the public's confidence in the system. D. the difficulty of counterfeiting the currency.
What conditions does the PPACA place on employers?
What will be an ideal response?