A Preference Map Is a

question 44

Multiple Choice

A preference map is a

• A) series of indifference curves.
• B) positively sloped series of curves, which reflect a consumer's preferences.
• C) contour map of a consumer's budget.
• D) map showing how much a consumer prefers one good for another.
• E) None of the above answers is correct.

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Definitions:

Bureau Of Labor Statistics

A U.S. government agency responsible for collecting and reporting labor market activity, working conditions, and price changes in the economy.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Weekly

Pertains to something that occurs, is done or calculated every week.

Basket Of Goods

A fixed set of consumer products and services valued on a regular basis for measuring inflation in an economy or specific market.