The slope of an indifference curve represents the maximum amount of one commodity that a consumer is willing to give up in exchange for one more unit of another commodity.
Answer the following statement true (T) or false (F)
True
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Which of these refers to the “individual mandate” in the Patient Protection and Affordable Care Act (PPACA) passed in 2010?
A. All physicians must treat any patient without charging a fee. B. All United States residents are required to carry insurance or pay a fine. C. All physicians must earn the same annual salary, regardless of specialty. D. All of the above
The Ricardian two-country two-good model predicts that there are potential benefits from trade, but NOT
A) the effect of trade on income distribution. B) the mechanism that determines which country will specialize in which good. C) when one country has an absolute advantage in the production of both goods. D) when one country has significantly lower wages than the other country. E) when both countries have the same types of technology available.
Starting in 1974, the conventional M1 money demand function began to
A) severely underpredict the demand for money. B) severely overpredict the demand for money. C) predict more precisely the demand for money. D) do none of the above.
Which statement is true?
A. William Julius Wilson and Charles Murray are basically in agreement about the causes of the formation of a permanent underclass. B. The permanent underclass has more white members than black members. C. There is very little evidence to show that there is actually a permanent underclass. D. There are more poor whites than poor blacks in the United States.