An indifference curve diagram has movies on the vertical axis and sodas on the horizontal
As the consumption of sodas increases and movies decreases (moving southeast along an indifference curve) the marginal rate of substitution of sodas for movies A) rises.
B) falls.
C) does not change.
D) probably changes, but more information is needed to determine if it rises or falls.
B
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Compared to other high-income countries, health care spending per person in the United States has been
A) declining at a faster rate. B) declining at approximately the same rate. C) growing at a faster rate. D) growing at approximately the same rate.
A pure private good has two characteristics: rivalry and excludability. Rivalry suggests that a private market, rather than the public sector, should produce the good, and excludability suggests a private market will provide it
a. True b. False