The endowment point is the consumption bundle in which
A) first-period consumption is equal to zero.
B) second-period consumption is equal to zero.
C) the consumer finds the most utility.
D) consumption is equal to disposable income in each period.
D
You might also like to view...
The thesis of racial inferiority is rather recent
Indicate whether the statement is true or false
A tariff is
a. a tax on imports. b. a tax on exports. c. a payment by the government to an exporter. d. a legal limit on the amount of a good that may be imported.
The Toxics Release Inventory (TRI)
a. is a national database providing information about hazardous releases b. provides information on hazardous substances solely to government officials c. is no longer maintained and reported to the public d. provides an annual list of the parties responsible for hazardous releases
When discussing the price elasticity of demand we generally refer to the absolute price elasticity of demand by consumers. This means that we will
A) disregard the law of demand. B) ignore its relationship to demand. C) disregard the minus sign. D) consider absolute rather than relative changes.