Except for perfect complements, an indifference curve has a ________ slope and becomes ________ moving to the right
A) negative; flatter
B) negative; steeper
C) positive; flatter
D) positive; steeper
A
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As an economy increasingly specializes in producing one good, the opportunity cost of that good increases. The opportunity cost increases because
A) not all goods are equally valuable. B) as more of a good is produced, the profit from its production must rise. C) resources are not equally productive in all activities. D) what must be paid to resources increases. E) human wants are virtually unlimited.
Refer to Table 9-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2015 and 2016?
A) 2% B) 5% C) 8% D) 11% E) 13%
The dominant-strategy solution implies that each firm
a. ignores the reactions of competitors b. colludes with competitors to maximize industry profits c. ignores the decisions of the other firms d. takes all potential bits of information into consideration before making a decision e. selects the optimal solution to a game
A discouraged worker is
What will be an ideal response?