An indifference curve shows all:
A. possible equilibrium positions on an indifference map.
B. equilibrium combinations of two products that are obtainable with a given money income.
C. combinations of two products yielding the same total utility to a consumer.
D. possible combinations of two products that a consumer can purchase, given her income
and the prices of the products.
Answer: C
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When wages or benefits are automatically increased based on the reported inflation rate, it is called the ________ adjustment
A) cost-of-living B) change in imports C) natural flow of money D) change in exports
A $10 million open market purchase will increase the monetary base by
A) $10 million. B) $10 million times the money multiplier. C) $10 million divided by the money multiplier. D) an amount between $0 and $10 million, depending on the fraction of the purchase the public wishes to hold as currency.