Which One of the Following Statements Is False

question 58

Multiple Choice

Which one of the following statements is false?

• A)If the indifference curve is steep, the marginal rate of substitution is high.
• B)A low marginal rate of substitution implies a flat indifference curve.
• C)A flat indifference curve implies a consumer must receive a large amount of good X to compensate for a small decrease in good Y.
• D)A high marginal rate of substitution implies a consumer must receive a large amount of good X to compensate for a small decrease in good Y.
• E)A high marginal rate of substitution implies a consumer must receive a small amount of good X to compensate for a large decrease in good Y.

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Definitions:

Checks

Written, dated, and signed instruments that direct a bank to pay a specific amount of money from the writer's account to the person or entity in whose name the check has been issued.

Bakers' Company

An organization or guild historically associated with bakers, often involved in regulating the baking trade.

Check Register

A record maintained by account holders to track checks written, deposits made, and current balances.

Deposit

A sum of money placed into an account or given to another party as a part of a financial transaction.