The negative slope of the budget line (or production possibilities curve) has a special meaning in economics. Which of the following does not indicate the negative slope correctly? 1) Consumers must make trade-offs in their consumption decisions. 2) There is an inverse relationship between the amount of one good and that of the other. 3) Positive slopes are always preferred to negative slopes. O 4) To get more of one good, we must give up with less of the other good.
The negative slope of the budget line (or production possibilities curve) has a special meaning in economics. Which of the following does not indicate the negative slope correctly? 1) Consumers must make trade-offs in their consumption decisions. 2) There is an inverse relationship between the amount of one good and that of the other. 3) Positive slopes are always preferred to negative slopes. O 4) To get more of one good, we must give up with less of the other good.
Micro Economics For Today
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Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
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![Question 9
) Listen
The negative slope of the budget line (or production possibilities curve) has a special
meaning in economics. Which of the following does not indicate the negative slope
correctly?
1) Consumers must make trade-offs in their consumption decisions.
2)
There is an inverse relationship between the amount of one good and that of
the other.
3) Positive slopes are always preferred to negative slopes.
4) To get more of one good, we must give up with less of the other good.
Question 10 (
) Listen
Which of the following is a macroeconomic statement?
1) The price of farmland in the U.S. increased by 30 percent in 2011 to 2012.
2)
The
gross domestic product in the first quarter of 2014 decreased from the
previous quarter.
3) General Motors' profits increased last
year.
4) The productivity of steelworkers increased by 1 percent last year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb70c4797-9104-47ad-8e68-22beb89abcaa%2F838fb9a7-dd34-42e0-9dd3-73b2b425cfa4%2F54mmzaw_processed.png&w=3840&q=75)
Transcribed Image Text:Question 9
) Listen
The negative slope of the budget line (or production possibilities curve) has a special
meaning in economics. Which of the following does not indicate the negative slope
correctly?
1) Consumers must make trade-offs in their consumption decisions.
2)
There is an inverse relationship between the amount of one good and that of
the other.
3) Positive slopes are always preferred to negative slopes.
4) To get more of one good, we must give up with less of the other good.
Question 10 (
) Listen
Which of the following is a macroeconomic statement?
1) The price of farmland in the U.S. increased by 30 percent in 2011 to 2012.
2)
The
gross domestic product in the first quarter of 2014 decreased from the
previous quarter.
3) General Motors' profits increased last
year.
4) The productivity of steelworkers increased by 1 percent last year.
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