Using community indifference curves to reflect tastes of the community
A) is a simple extension of indifference curve analysis because people are so different.
B) cannot usually be done because the community may have inconsistent tastes even though its residents do not.
C) is a simple extension of indifference curve analysis if people are all alike.
D) Both B and C.
D
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Sally is shopping for textbooks at the beginning of the semester. What is one reason she might decide to not purchase a textbook?
A) Her expected producer surplus is positive. B) Her expected consumer surplus is negative. C) Her expected consumer surplus is positive. D) Her expected profits are positive.
A price floor policy establishes a minimum price for a market. Which of the following results from a binding price floor?
A. Shortage B. Excess demand C. Excess supply D. Equilibrium
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
13) In the figure above, point D A) is less efficient than point C. B) is more efficient than point A. C) is less efficient than point B. D) is more efficient than point B.