Suppose George's income is $10,000 and he pays a tax of $1,000, but Laura's income is $50,000 and she pays a tax of $4,000. Such a tax is:

Higher rates of interest increase the opportunity cost of holding money balances

a. True b. False Indicate whether the statement is true or false

For a typical consumer, indifference curves can intersect if they satisfy the property of transitivity

a. True b. False Indicate whether the statement is true or false