Multiple Choice
An income consumption curve (shown on an indifference map with Ben's income on the horizontal axis and Jerry's income on the vertical axis) is positively sloped.Given that the indifference curves on the map are downward sloping,which of the followings statements is true?
A) Jerry views charitable donations to Ben as an inferior good.
B) Altruism cannot be accurately captured using indifference curves.
C) Charitable giving to Ben is a normal good for Jerry.
D) Jerry views Ben's income as an economic bad.
Correct Answer:
Verified
Correct Answer:
Verified
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