If an Indifference Map for a Consumer Is Made Up

question 43

Multiple Choice

If an indifference map for a consumer is made up of straight, negatively sloped lines, the goods are

• A) perfect complements.
• B) unrelated.
• C) perfect substitutes.
• D) not desirable.

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Definitions:

World's Income

The total income generated by all individuals and entities across the globe, often used in comparisons of wealth and economic performance between countries.

Real Outputs

Refers to the actual goods and services produced by an economy, as measured without inflation.

Absolute Income Gap

The absolute difference in income levels between individuals, groups, or countries.

Per Capita Incomes

An average amount of money earned per person in a certain area, calculated by dividing the total income of a region by its population.