Exam 9: Possibilities, Preferences, and Choices

Use the figure below to answer the following question. Figure 9.2.4 -Refer to Figure 9.2.4.Rashid buys only books and albums.The figure shows his preferences.Rashid's indifference curves display diminishing marginal rate of substitution because .

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Question 61

If the price of the good measured on the horizontal axis falls, the substitution effect is indicated by movement to a

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Question 62

If income increases, the budget line

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Question 63

A change in the price of the good measured on the horizontal axis changes ________ of the budget line.

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Question 64

Larry consumes only beer (B)and chips (C).His real income in terms of chips is

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Question 65

Suppose all prices double and income also doubles.Which statement is true?

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Question 66

At the best affordable point, what is the relationship between the indifference curve and the budget line?

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Question 67

Which statement is true for a normal good?

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Question 68

Marie-Louise has an income of $10 to buy peanuts and popcorn.The price of a bag of peanuts is $1 and the price of a bag of popcorn is $2.What is Marie-Louise's real income in terms of popcorn?

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Question 69

Bill consumes apples and bananas.Apples are measured on the vertical axis and bananas are measured on the horizontal axis.Bill's income doubles, the price of apples doubles, and the price of bananas triples.Bill's budget line

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Question 70

If the price of the good measured on the vertical axis increases, the budget line

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Question 71

An indifference curve is

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Question 72

Use the figure below to answer the following questions. Figure 9.2.1 -Which of the graphs in Figure 9.2.1 shows perfect complements?

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Question 73

The price of a good increases relative to other goods.Which one of the following statements must be true? The resulting

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Question 74

David has an income of $60 to buy movie tickets and bus tickets.The price of a movie ticket is $12 and the price of a bus ticket is $4.What is David's real income?

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Question 75

Which one of the following is always true of the price effect?

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Question 76

Larry consumes only beer (B)and chips (C).The magnitude of the slope of his budget line (with beer measured on the vertical axis)is

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Question 77

Use the figure below to answer the following questions. Figure 9.3.4 Original equilibrium at A, new equilibrium at B -Refer to Figure 9.3.4.Which graphs show the case where good Y is a normal good?

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Question 78

Martha consumes cake and muffins.Suppose Martha's income doubles and the prices of cake and muffins also double.Martha's budget line

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Question 79

Karen consumes chocolate and candles.When Karen is at her best affordable point, she is

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Question 80

Showing 61 - 80 of 124

Use the figure below to answer the following question. Figure 9.2.4 -Refer to Figure 9.2.4.Rashid buys only books and albums.The figure shows his preferences.Rashid's indifference curves display diminishing marginal rate of substitution because .

If the price of the good measured on the horizontal axis falls, the substitution effect is indicated by movement to a

If income increases, the budget line

A change in the price of the good measured on the horizontal axis changes ________ of the budget line.

Larry consumes only beer (B)and chips (C).His real income in terms of chips is

Suppose all prices double and income also doubles.Which statement is true?

At the best affordable point, what is the relationship between the indifference curve and the budget line?

Which statement is true for a normal good?

Marie-Louise has an income of $10 to buy peanuts and popcorn.The price of a bag of peanuts is $1 and the price of a bag of popcorn is $2.What is Marie-Louise's real income in terms of popcorn?

Bill consumes apples and bananas.Apples are measured on the vertical axis and bananas are measured on the horizontal axis.Bill's income doubles, the price of apples doubles, and the price of bananas triples.Bill's budget line

If the price of the good measured on the vertical axis increases, the budget line

An indifference curve is

Use the figure below to answer the following questions. Figure 9.2.1 -Which of the graphs in Figure 9.2.1 shows perfect complements?

The price of a good increases relative to other goods.Which one of the following statements must be true? The resulting

David has an income of $60 to buy movie tickets and bus tickets.The price of a movie ticket is $12 and the price of a bus ticket is $4.What is David's real income?

Which one of the following is always true of the price effect?

Larry consumes only beer (B)and chips (C).The magnitude of the slope of his budget line (with beer measured on the vertical axis)is

Use the figure below to answer the following questions. Figure 9.3.4 Original equilibrium at A, new equilibrium at B -Refer to Figure 9.3.4.Which graphs show the case where good Y is a normal good?

Martha consumes cake and muffins.Suppose Martha's income doubles and the prices of cake and muffins also double.Martha's budget line

Karen consumes chocolate and candles.When Karen is at her best affordable point, she is

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Filters

Exam 9: Possibilities, Preferences, and Choices

Use the figure below to answer the following question. Figure 9.2.4 -Refer to Figure 9.2.4.Rashid buys only books and albums.The figure shows his preferences.Rashid's indifference curves ________ display diminishing marginal rate of substitution because ________.

If the price of the good measured on the horizontal axis falls, the substitution effect is indicated by movement to a

If income increases, the budget line

A change in the price of the good measured on the horizontal axis changes ________ of the budget line.

Larry consumes only beer (B)and chips (C).His real income in terms of chips is

Suppose all prices double and income also doubles.Which statement is true?

At the best affordable point, what is the relationship between the indifference curve and the budget line?

Which statement is true for a normal good?

Marie-Louise has an income of $10 to buy peanuts and popcorn.The price of a bag of peanuts is $1 and the price of a bag of popcorn is $2.What is Marie-Louise's real income in terms of popcorn?

Bill consumes apples and bananas.Apples are measured on the vertical axis and bananas are measured on the horizontal axis.Bill's income doubles, the price of apples doubles, and the price of bananas triples.Bill's budget line

If the price of the good measured on the vertical axis increases, the budget line

An indifference curve is

Use the figure below to answer the following questions. Figure 9.2.1 -Which of the graphs in Figure 9.2.1 shows perfect complements?

The price of a good increases relative to other goods.Which one of the following statements must be true? The resulting

David has an income of $60 to buy movie tickets and bus tickets.The price of a movie ticket is $12 and the price of a bus ticket is $4.What is David's real income?

Which one of the following is always true of the price effect?

Larry consumes only beer (B)and chips (C).The magnitude of the slope of his budget line (with beer measured on the vertical axis)is

Use the figure below to answer the following questions. Figure 9.3.4 Original equilibrium at A, new equilibrium at B -Refer to Figure 9.3.4.Which graphs show the case where good Y is a normal good?

Martha consumes cake and muffins.Suppose Martha's income doubles and the prices of cake and muffins also double.Martha's budget line

Karen consumes chocolate and candles.When Karen is at her best affordable point, she is

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Filters

Use the figure below to answer the following question. Figure 9.2.4 -Refer to Figure 9.2.4.Rashid buys only books and albums.The figure shows his preferences.Rashid's indifference curves display diminishing marginal rate of substitution because .