Indifference curves are convex because of the diminishing
a. law of demand
b. income
c. prices
d. choices to consumers
e. marginal rates of substitution
E
Economics
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What will be an ideal response?
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Monopolies are sometimes more technologically efficient than perfectly competitive markets
a. True. b. False.
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
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An appreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right B) raise; left C) lower; right D) lower; left
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