In the graph below, as the consumer moves from indifference curve 1 to 3, his 
A. real and nominal income are falling, but he can buy more anyway.
B. real income is falling, and his nominal income is rising.
C. real income is falling and nominal income is constant.
D. real income is rising and his nominal income is constant.
Answer: D
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Prices that adjust nearly on a daily basis are
A) heavy prices. B) sticky prices. C) auction prices. D) custom prices.
Positive economics statements are testable
Indicate whether the statement is true or false
In the above table, which tax plan is regressive?
A) only plan A B) only plan B C) only plan C D) both plan A and plan C
A market with many firms that sell goods and services that are close substitutes for one another is called:
A. monopoly. B. perfect competition. C. oligopoly. D. monopolistic competition.