If two bundles are on the same indifference curve, then
A) the consumer derives the same level of utility from each.
B) the consumer derives the same level of ordinal utility from each but not the same level of cardinal utility.
C) no comparison can be made between the two bundles since utility cannot really be measured.
D) B and C.
A
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The nation as a whole is better off from trade as long as the gains from the winners exceed the losses from the losers
Indicate whether the statement is true or false
The aggregate demand curve is downward sloping because
a. an increase in the price level will cause an increase in spending on goods and services. b. at lower price levels, real wealth decreases, causing a decrease in the quantity demanded of goods and services. c. at lower price levels, interest rates increase, causing a decrease in the quantity demanded of goods and services. d. at lower price levels, net exports increase, causing an increase in quantity demanded of goods and services.