Multiple Choice
In the (consumption,leisure) space,indifference curves as we have assumed them are
A) downward sloping and bowed out of the origin.
B) downward sloping and bowed towards the origin.
C) upward sloping and bowed out of the origin.
D) upward sloping and bowed towards the origin.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: An increase in total factor productivity could
Q28: When the representative firm maximizes profits<br>A) production
Q29: The representative consumer acts competitively<br>A) when he
Q30: A dynamic decision is one that<br>A) is
Q32: The marginal rate of substitution measures<br>A) the
Q33: A consumer is said to be indifferent
Q34: When the wage increases,the income effect on
Q35: In the one-period model,what do we assume
Q36: With consumption on the vertical axis and
Q61: A consumption bundle<br>A) is a particular combination