Any point on the lowest indifference curve is preferable to a point on a higher indifference curve
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is blamed for the lack of increased business investment spending on new factories and machinery during the 1930s?
(a) The new presence of government's large-scale economic activity caused business to lose some of its former confidence. (b) The general outlook stressed caution. (c) A much lower rate of population growth and family creation depressed the housing market. (d) All of the above.
If producers who hire labor in a competitive labor market decide to purchase the new automated machine that completes the work of 30 employees, we would expect the:
A. labor-supply curve in that market to shift left. B. labor-demand curve in that market to shift left. C. labor-supply curve in that market to shift right. D. labor-demand curve in that market to shift right.
According to the Cost-Benefit Principle, you should go see the latest Star Wars movie with your friends this weekend if:
A. the extra benefits of seeing the movie are greater than the extra costs of seeing the movie.
B. you can afford to go to the movies.
C. the average benefit you get from going to the movies is greater than the average cost of a ticket.
D. you really like Star Wars.
What is shown by the indifference map for two goods? Which indifference curve would a consumer want to be on?
Please provide the best answer for the statement.