Assume that a consumer's indifference curve is bowed inward and satisfies the other three properties of indifference curves. As the consumer moves from left to right along the horizontal axis, the consumer's marginal rate of substitution

A surplus in a labor market exerts an upward pressure on the equilibrium wage rate

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

Frederic Bastiat's, "A Petition From the Candlemakers", presents a satirical view of protectionism because

A. it pictures the sun as an unfair foreign competitor. B. it argues the government should ban all imports. C. it makes consumer preferences for foreign products the source of trade problems. D. it makes domestic workers the source of all trade problems.