Refer to Figure 7.1. Which of the following statements is incorrect?
A. Bundle A costs less than bundle E.
B. Bundle C costs as much as bundle D.
C. Bundle B costs more than bundle C.
D. Bundle F costs more than bundle C.
Answer: C
You might also like to view...
If the quantity of money demanded exceeds the quantity of money supplied, then the
A) equilibrium interest rate will decrease. B) equilibrium interest rate will increase. C) equilibrium interest rate stays the same. D) effect on the equilibrium interest rate is indeterminate.
Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n)
A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference.
The institution that is responsible for maintaining international monetary stability is the:
A. International Monetary Fund. B. World Bank. C. United Nations. D. International Reserve Bank.
For economic efficiency, which of the following conditions should be met?
a. Scarcer goods should have lower prices. b. More abundant goods should have lower prices. c. More abundant goods should have higher prices. d. All goods should have equal prices.