Refer to Table 2-13. What is Horace's opportunity cost of grooming a dog?
A) half a bathed cat B) two bathed cats
C) one and a half bathed cats D) two-thirds of a bathed cat
D
Economics
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Consumption expenditure is the payment by households for consumption of
A) goods but not services. B) services but not goods. C) goods and services. D) services and for saving.
Economics
Under which of the following conditions will there be no substitution bias in the CPI?
A) Indifference curves are convex. B) Indifference curves are L-shaped. C) Indifference curves are linear. D) Indifference curves are downward sloping.
Economics