A movement upward along an upward sloping Engel curve corresponds to
A) upward sloping indifference curves.
B) crossing indifference curves.
C) a rotation in the budget constraint.
D) a parallel shift in the budget constraint.
D
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A situation in which two people each want some good or service that the other person is able to provide is called a double coincidence of wants
a. True b. False Indicate whether the statement is true or false
Economists have found that some risky behaviors increase and preventative medicine use decreases when individuals in the U.S. turn 65 and qualify for Medicare (public health insurance). This phenomenon is most consistent with which of the following concepts?
a. Moral hazard b. Time inconsistency c. Availability bias d. Confirmation bias
Which of the following would NOT be considered a determinant of marginal productivity?
A) talent B) gender C) experience D) training
Refer to the above figure. The equilibrium price and quantity are
A. $2 and 12 units. B. $6 and 9 units. C. $8 and 6 units. D. $10 and 1 unit.