"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
Q14: A consumption bundle
A) is a particular combination
Q15: For macroeconomic purposes,it is assumed that all
Q16: A consumer is said to be indifferent
Q17: We typically assume that
A) both consumption and
Q18: In macroeconomic analysis,the representative consumer
A) denotes the
Q20: The principle that consumers and firms optimize
A)
Q21: Convexity of the indifference curve follows from
A)
Q22: Moving down the indifference curve,the marginal rate
Q23: That indifference curves are bowed in toward
Q24: The marginal rate of substitution is defined
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