The indifference curves for left shoes and right shoes would most likely be
A) upward sloping and concave to the origin.
B) downward sloping and convex to the origin.
C) downward sloping and straight lines.
D) L-shaped.
D
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A monopolist that engages in perfect price discrimination
a. divides all buyers into two mutually exclusive groups b. refuses to sell to consumers of certain races, sexes, or creeds c. charges the same price for every unit sold d. charges a different price for every unit sold e. charges buyers who want a little of the good a low price and charges buyers who want a lot of the good a high price
Governments should not be concerned about fiscal policies that sustain a pattern of high budget deficits and high trade deficits.
Select whether the statement is true or false. A. True B. False
If a country allows trade and, for a certain good, the domestic price without trade is higher than the world price, which of the following conclusions can be made?
What will be an ideal response?
Classical economists believed that in the long run the economy would fix itself, thus there was no need for any government action. Which of the following economists disagreed, saying, "In the long run, we are all dead."
A. Milton Friedman B. Arthur Laffer C. George Lucas D. John Maynard Keynes