If the relative price of S were to rise, then an individual's indifference curve would rotate toward the T axis
Indicate whether the statement is true or false
FALSE
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If the nominal interest rate is above its equilibrium value, then
A) the demand curve for money shifts rightward and the interest rate rises. B) the demand curve for money shifts leftward and the interest rate falls. C) people sell financial assets and the interest rate falls. D) the supply curve of money shifts leftward and the interest rate rises. E) people buy financial assets and the interest rate falls.
Gary has to decide between attending a two-day art workshop and a four-day art workshop. If he evaluates only the change in net benefit when he switches between the two options, he is using the technique of:
A) ordinal analysis. B) comparative statics. C) optimization in levels. D) optimization in differences.