What happens to the absolute value of the marginal rate of substitution as you move down a convex (bowed toward the origin) indifference curve?
A) It could increase or decrease. B) It remains constant.
C) It decreases. D) It increases.
C
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In answer to the question, "Who manages?" the answer is:
a. Everyone does b. Some people do sometimes c. Some individuals rarely manage anything d. It depends, some people manage, others don't
People tend to remain in those occupations that require continuous time and financial commitments to remain productive
a. True b. False Indicate whether the statement is true or false
If individuals will no longer accept a currency, is it still considered to be money? a. No, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable. b. No, because of Gresham's Law
c. Yes, because the government identifies it as legal tender. d. Yes, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable.
Physicians who own their own diagnostic testing facilities tend to order more tests, charge higher fees for them, and have higher total bills to patients. This practice of self-referral is an example of:
a. adverse selection. b. cognitive dissonance. c. physician-induced demand. d. moral hazard. e. res ipsa loquitor.