A consumer will go to a point on the highest attainable indifference curve
a. True
b. False
Indicate whether the statement is true or false
True
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Last year, Sefton purchased 60 pounds of potatoes to feed his family of five when his household income was $30,000. This year, his household income fell to $20,000 and Sefton purchased 80 pounds of potatoes
All else constant, Sefton's income elasticity of demand for potatoes is A) positive, so Sefton considers potatoes to be a normal good and a necessity. B) positive, so Sefton considers potatoes to be an inferior good. C) negative, so Sefton considers potatoes to be an inferior good. D) negative, so Sefton considers potatoes to be a normal good.
In the knowledge economy
A) the supply chain has been decomposed. B) property rights have been altered. C) increasing returns may occur more often. D) all of these choices.
Fiscal policy is the set of policies that relate to federal government spending, taxation, and borrowing.
Select whether the statement is true or false. A. True B. False
Refer to Exhibit 2-1. Scarcity exists
 ANSWER 3.png)