If bundles of goods A and B lie on the same indifference curve, one can assume the individual
a. prefers bundle A to bundle B.
b. prefers bundle B to bundle A.
c. enjoys bundle A and B equally.
d. bundle A contains the same goods as bundle B.
c
Economics
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If a government imposed price ceiling legally sets the price of beef below market equilibrium, which of the following will most likely happen?
a. The quantity of beef demanded will decrease. b. The quantity of beef supplied will increase. c. There will be a surplus of beef. d. There will be a shortage of beef.
Economics
In the U.S., from the early 1980s through the early 1990s,
a. both inflation and nominal interest rates rose. b. both inflation and nominal interest rates fell. c. the inflation rate fell and the nominal interest rate rose. d. the inflation rate rose and the nominal interest rate fell.
Economics