An indifference curve
A. may be upsloping or downsloping, depending on whether the two products are complements or substitutes.
B. is positively sloped.
C. must slope downward towards the right.
D. is upsloping and is concave to the origin.
Answer: C
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A bank's largest liability is its
A) shareholder equity. B) long-term debt. C) short-term borrowing. D) deposits of its customers.
All of the following are measures of market power except the:
A) Lerner Index. B) Minimum-Efficient Scale Index. C) four-firm concentration ratio for an industry. D) Herfindahl-Hirschman Index.
Consider a country that initially does not interfere with imports of a given good. If the government then imposes a tariff on that good, the supply curve
a. shifts downward. b. remains unchanged. c. slopes upward less steeply. d. shifts upward.
An aggregated demand curse is created by summing the _________ on the individual demand _________.
Fill in the blank(s) with the appropriate word(s).