A Consumer's Optimal Choice Occurs When the

question 199

Multiple Choice

A consumer's optimal choice occurs when the

• A)consumer's valuation of the two goods equals the market's valuation of the two goods.
• B)consumer minimizes her expenditures.
• C)consumer attains the highest indifference curve.
• D)consumer's valuation of the two goods exceeds the market's valuation of the two goods.

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Definitions:

Exports

Goods or services produced in one country and sold to buyers in another country.

Imports

Imports refer to the goods and services that are brought into a country from abroad for sale.

Balance Of Trade Surplus

Occurs when a country's exports exceed its imports during a given time period, indicating a positive balance of trade.

Swiss Francs

The currency of Switzerland, used as a medium of exchange within the country.