When indifference curves are bowed in toward the origin,
a. consumers are less inclined to trade away goods they are lacking.
b. consumers' willingness to trade away goods they have in abundance diminishes.
c. an increase in income will shift the indifference curve away from the origin.
d. a decrease in income will shift the indifference curve toward the origin.
a
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From 1948 to 2010, the United States has experienced only 4 recessions
Indicate whether the statement is true or false
The present value of a given payment in the future ________ when the interest rates fall
A) decreases B) reverts to the original value C) increases D) remains the same
The U.S. imports Japanese cars with a domestic price of 5,000,000 yen and the yen/dollar exchange rate is 120 on January 1, 2003. On January 1, 2004 the yen/dollar exchange rate is 125
What is the dollar price of the cars on January 1, 2003? What is the dollar price of the cars on January 1, 2004?
One disadvantage of a sole proprietorship as a form of business organization is that
a. sole proprietorships cannot lower the transaction costs associated with contracting with resource owners b. sole proprietorships are less efficient than corporations, because they are less specialized in production c. owners of sole proprietorships can lose all their personal assets if the business is sued or fails d. owners of sole proprietorships generally find it difficult to negotiate separation agreements with the other partners in the firm e. owners of sole proprietorships generally have very little control over how they operate their businesses