"More is always preferred to less" refers to
A) choices between work and leisure.
B) choices between happiness and utility.
C) choices between consumption and work.
D) choices between consumption and leisure.
E) more consumption and less leisure.
Correct Answer:
Verified
Q15: Two key properties of indifference curves are
Q16: We assume that the representative consumer's preferences
Q17: The principle that consumers and firms optimize
A)
Q18: The consumer's work-leisure choice problem focuses on
Q19: A good is inferior for a consumer
Q21: A lump-sum tax is a tax that
A)
Q22: The slope of the indifference curve is
Q23: In a one-period economy, real consumption
A) is
Q24: The time constraint for the consumer is
A)
Q25: When consumers act as price-takers, we say
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents