If you considered steak and lobster to be perfect substitutes for each other, your indifference curves between them would be L-shaped
Indicate whether the statement is true or false
FALSE
You might also like to view...
Household production still exists because it often requires fewer specialized resources than market production does
a. True b. False
Higher prices may serve the public interest when:
a. there is a shortage of goods or services available b. there is an uneven distribution of traffic on alternate routes c. higher prices never serve the public interest d. both a and b
A key benefit for nations in a politically integrated currency union such as the United States is the existence of fiscal federalism. What is the status of fiscal federalism in the Eurozone?
A) It is almost nonexistent because few fiscal transfers take place. B) It is thriving and encompasses many aspects of the economy. C) Most believe it currently lags the United States, but the situation is very fluid and will change soon. D) Fiscal federalism is a concept that has relevance only in the United States because each Eurozone nation is completely independent.
Assets minus liabilities equal:
A. current income minus spending on current needs. B. wealth. C. saving. D. investment.