An indifference curve will become ________ the origin the more that the consumer considers the two goods as substitutes
A) less bowed-in towards
B) more bowed-in towards
C) less bowed-out from
D) more bowed-out from
A
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Mutual funds are diversified financial instruments that represent a large number of stocks, bonds, and/or other financial assets
Indicate whether the statement is true or false
If Jane can produce 3 pairs of shoes per hour, while Bob can produce 2, then ________ has a(n) ________ advantage in producing shoes.
A. Bob; absolute B. Jane; absolute C. Bob; comparative D. Jane; comparative
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.
Scalping at major sporting events is an example of
A. a black market caused by a price floor. B. the operation of rationing by the market. C. a black market caused by a price ceiling. D. a surplus caused by the existence of price ceilings.