At two points on an indifference curve,
a. the bundles of goods yield the consumer the same satisfaction.
b. the consumer has the same income.
c. the bundles of goods cost the consumer the same amount.
d. the consumer has the same marginal rate of substitution.
Answer: a. the bundles of goods yield the consumer the same satisfaction.
You might also like to view...
The Constitution created an environment conducive to economic growth and development because the federal government could constitutionally do all of the following except
(a) Levy uniform taxes (b) Coin money and regulate its value (c) Regulate commerce, thus prohibiting states from erecting barriers to the interstate movement of goods (d) Set "fair" prices on the private sale of goods in the marketplace
Compared to the US, the unemployment rate in Europe was ________ throughout the 1960s and 1970s and ________ after 1980
A) higher; lower B) lower; higher C) lower; remained lower D) higher, remained higher