Consumers always prefer indifference curves that are ____ the origin.

Which of the following contributes to the projected rise in government spending on Social Security and Medicare as a percentage of GDP?

a. increasing life expectancies b. increasing healthcare costs c. increasing fertility rates d. Both a and b are correct.

In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:

A. higher prices. B. lower prices. C. lower output. D. None of these is true.