The bowed shape of the indifference curve reflects the consumer's
a. unwillingness to give up a good that he already has in large quantity.
b. unwillingness to purchase a good that he already has in large quantity.
c. greater willingness to give up a good that he already has in large quantity.
d. greater willingness to purchase a good that he already has in large quantity.
c
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What are the effects of a minimum wage set below the equilibrium wage?
What will be an ideal response?
Which of the following statements is TRUE about the public debt and future generations?
A) Future generations will always be worse off because they will have to pay off the public debt. B) Increased consumption today will lead to increases in the capital stock in the future. C) Future generations may be better off if the rate of return on the borrowed funds is higher than the interest rate paid to foreign residents. D) The public debt cannot be held by foreign residents therefore we really owe the debt to ourselves.