The revealed preference approach can provide more informative comparisons of market baskets if we also assume that the consumer's indifference curves are:
A) concave.
B) convex.
C) incomplete.
D) intransitive.
B
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One motive for “battling the invisible hand” is
A. unhappiness about the prices that occur in free markets. B. envy toward those who apparently benefit from certain prices. C. a desire to have government “correct” some problems. D. an attempt to produce justice between buyers and sellers. E. All of these responses are correct.
Which of the following is not a way by which price-discriminating firms can segment a market?
A) on the basis of the supplier's marginal cost of production, for example requiring customers to pay a premium for customizing options B) on basis of the buyer's location, for example requiring out-of-state students to pay higher tuition C) on the basis of time of purchase, for example long-distance calling D) by requiring an advance purchase, for example airline tickets
Holding all else constant, an economic expansion in Mexico should decrease the demand for U.S. dollars
Indicate whether the statement is true or false
An argument supporting promotion of the urban informal sector is
(a) the formal sector is incapable of providing enough employment. (b) informal sector workers are poorly educated. (c) it uses a relatively high capital intensity. (d) it would reduce urban bias.