What are the properties of indifference curves?
a . Every point on an indifference curve farther from the origin than another indifference curve is preferable to points on the curve closer to the origin.
b. Indifference curves never intersect.
c. Indifference curves are negatively sloped.
d. Indifference curves are generally "bowed in" (convex) toward the origin.
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Although wages, incomes, and interest rates are most often discussed in real terms, what matters most are their nominal values.
a. true b. false
If U.S. net exports are negative,
a. U.S. consumers are spending less on foreign goods than foreign consumers are spending on U.S. goods b. U.S. consumers are spending more on foreign goods than foreign consumers are spending on U.S. goods c. the government must promote imports to balance international trade d. U.S. consumers are spending more on foreign goods than they are spending on U.S. goods e. U.S. disposable income is low