Vicki consumes meatloaf and pizza. To keep her utility constant, you must give her more of one good if you take some of the other away. This information implies that
a. Vicki's marginal rate of substitution must be constant along her indifference curve.
b. Vicki's indifference curve must have a negative slope.
c. the prices Vicki must pay for meatloaf and pizza are always the same.
d. Vicki's marginal utility from each good must be constant along her indifference curve.
b
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As the exchange rate ________, the quantity of dollars ________ in the foreign exchange market ________
A) rises; supplied; increases B) falls; supplied; increases C) rises; demanded; increases D) falls; demanded; decreases
What characteristic defines something as money?
A) assets declared by the government to be of value B) a medium of exchange widely accepted in an economy C) notes you can deposit in a savings account D) an asset that earns interest