Economics 12E - Arnold - TB_123

Economics 12E - Arnold - TB_123 - OTHER Economics 24/7 14...

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OTHER: Economics 24/7 14. Research presented in the text shows that people are more likely to spend a larger percentage of money received from the government when it is called a “tax bonus” than they would if it were called a “tax rebate.” a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Utility and consumer choic - DISC: Utility and consumer choice KEYWORDS: Bloom's: Knowledge OTHER: Economics 24/7 15. An indifference curve shows all the combinations of bundles of two goods a person can purchase given a fixed amount of income. POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Utility and consumer choic - DISC: Utility and consumer choice KEYWORDS: Bloom's: Comprehension OTHER: Appendix E 16. Consumer equilibrium occurs at the point where the slope of the budget constraint is equal to the slope of the indifference curve. POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Utility and consumer choic - DISC: Utility and consumer choice
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KEYWORDS: Bloom's: Comprehension OTHER: Appendix E 17. Indifference curves are generally downward sloping and concave to the origin. POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Utility and consumer choic - DISC: Utility and consumer choice KEYWORDS: Bloom's: Comprehension OTHER: Appendix E
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