If All Consumers Satisfy Economists' Assumptions Regarding Utility,then

question 80

Multiple Choice

If all consumers satisfy economists' assumptions regarding utility,then

• A)they will each choose a consumption bundle that is inside the budget line
• B)everyone will choose the same consumption bundle
• C)everyone will have the same budget line
• D)all consumers will react in the same way to a price change
• E)each person will choose a consumption bundle on his or her budget line

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Definitions:

Taxes

Mandatory financial contributions imposed by governments on individuals and businesses to fund public services and infrastructure.

Senate Watergate Committee

A select committee formed by the United States Senate in 1973 to investigate the Watergate scandal, involving a break-in at the Democratic National Committee headquarters and the subsequent cover-up by the Nixon administration.

Select Committee

A temporary or permanent legislative committee established to conduct investigations or consider specific issues not suitable for a standing committee.

Nuclear Option

A parliamentary procedure that allows the United States Senate to override a rule or precedent by a simple majority of 51 votes, rather than the two-thirds majority normally required.