A rise in a consumer's income causes his/her budget constraint to shift to the left
a. True
b. False
Indicate whether the statement is true or false
False
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A product is considered to be nonexcludable if
A) you cannot keep those who did not pay for the item from enjoying its benefits. B) it is jointly owned by all members of a community. C) your consumption of the product reduces the quantity available for others to consume. D) you can keep those who did not pay for the item from enjoying its benefits.
A quota subscription is
A) the maximum amount of funds that can be drawn at the World Bank without a formal proposal. B) the maximum amount that a private investor can invest in foreign firms. C) a nation's account at the International Monetary Fund. D) when an investor sets limits on the proportion of their portfolio that will contain foreign investments.
In most countries, decisions that affect medical expenditures are
A. centralized. B. decentralized. C. determined by government policy. D. both centralized and decentralized.
Refer to the information provided in Figure 6.12 below to answer the question that follows.
Figure 6.12Refer to Figure 6.12. If Arthur moves from indifference curve 2 to indifference curve 1, then Arthur?s
A. total utility decreases. B. prices of the goods decrease. C. marginal utility decreases. D. total income increases.