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:

Cash Account

A cash account is a brokerage account that requires the investor to pay the full amount for securities purchased and to receive full delivery of the securities sold.

Two-Column Journal

A fundamental accounting record with two columns used for debits and credits to record financial transactions.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side of an account ledger.

Credit

An accounting entry that increases the balance of liabilities and equity accounts or decreases the balance of an asset or expense account.