Multiple-Choice Review Questions

  1. Question

    Which of the following is true along an individual’s indifference curve for ordinary goods?

    A.
    B.
    C.
    D.
    E.

  2. Question

    Which of the following is/are true of indifference curves for ordinary goods?



    1. They cannot intersect.



    2. They have a negative slope.



    3. They are convex.



    A.
    B.
    C.
    D.
    E.

  3. Question

    Moving from left to right along an indifference curve, which of the following increases?

    A.
    B.
    C.
    D.
    E.

  4. Question

    If the quantity of good X is measured on the horizontal axis and the quantity of good Y is measured on the vertical axis, the marginal rate of substitution is equal to

    A.
    B.
    C.
    D.
    E.

  5. Question

    If the quantity of good X is again measured on the horizontal axis and the quantity of good Y is measured on the vertical axis, which of the following is true? The optimal consumption bundle is found where

    A.
    B.
    C.
    D.
    E.

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