A consumer's preferences provide a ranking of
a. all possible consumption bundles.
b. only the consumption bundles that fall on the same indifference curve.
c. consumption bundles based their prices.
d. consumption bundles based on the consumer's income.
a
Economics
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Explain why only final goods are included in GDP
What will be an ideal response?
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The law of downward sloping demand states which of the following?
A. Food spending changes in the opposite direction as income changes. B. When demand rises, supply falls. C. Quantity response to price is elastic. D. A larger quantity is demanded at a lower price than at a higher price, all other things held constant.
Economics