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Author Question: A demand curve is a A) graphical representation of the demand schedule. B) graphical ... (Read 151 times)

neverstopbelieb

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on: Jun 29, 2018
A demand curve is a
 
  A) graphical representation of the demand schedule.
  B) graphical representation of alternative demands.
  C) horizontal line connecting amounts demanded at various income levels.
  D) graphical relationship, that includes several things such as tastes, time, and supply.

Question 2

John has an economics test tomorrow. He must study and has planned the rest of his day so that he can fit some study time in. He has decided to go to the gym and then study for several hours. Which of the following statements is TRUE?
 
  A) John did not use the economic way of thinking because his decision on how to allocate his time did not involve money.
  B) John's decision on how to allocate his time is inconsistent with the rationality assumption since he has decided to go to the gym.
  C) John's decision on how to allocate his time is consistent with the rationality assumption since the decision is intended to make him better off.
  D) John's decision does not involve his pursuit of self-interest.


kaillie

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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