Convexity of indifference curves implies that consumers are willing to
A) give up more "y" to get an extra "x" the more "x" they have.
B) give up more "y" to get an extra "x" the less "x" they have.
C) settle for less of both "x" and "y."
D) acquire more "x" only if they do not have to give up any "y."
B
You might also like to view...
For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as
A. average goods. B. inferior goods. C. direct goods. D. normal goods.
Which of the following could trigger supply-side inflation?
A. A decrease in the wage rate for all workers B. An increase in raw materials’ prices C. An increase in the productivity of capital D. An increase in the labor force
The government's holdings of foreign currency is recorded in the
A) money account. B) current account. C) currency account. D) official settlements account. E) capital and financial account.
If the number of discouraged workers increases, everything else remaining the same, then the
A) unemployment rate will increase. B) employment-to-population ratio will decrease. C) employment-to-population ratio will increase. D) labour force participation rate will increase. E) labour force participation rate will decrease.