By the property of "more is better" and transitivity, indifference curves:
A. can intersect one another only twice.
B. do not intersect one another.
C. may overlap one another.
D. can intersect one another only once.
Answer: B
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If Stock A and Stock B both increase in value at the same time, they are
A) negatively correlated. B) uncorrelated. C) positively correlated. D) certain bets.
Which statement is true?
A. Our merchandise trade deficit and our overall trade deficit are identical. B. Our merchandise trade deficit is greater than our overall trade deficit. C. Our overall trade deficit is greater than our merchandise trade deficit. D. None of these statements are true.
Refer to the graphs shown. The relevant market is corn. The impact of a poor corn harvest on the market for corn would most likely be demonstrated by which graph?
A. Graph a B. Graph b C. Graph c D. Graph d
The value that consumers get (from consuming a product) over and above that they actually paid for the product is called:
A. Consumer utility B. Consumption expenditures C. Consumer surplus D. Consumer demand