1/11/2019 Quiz 003

Question 1 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
Indifference curves are downward sloping to the right and are concave in shape.

Answer: False - convex

Question 2 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
The ordinal utility approach measures satisfaction in utils.

Answer: False - cardinal

Question 3 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
The curve that shows the different combinations of two goods or service that would
give the same level of satisfaction is demand curve.

Answer: False - indifference curve

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1/11/2019 Quiz 003
Question 4 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
The budget line takes into account the income and the prices of goods and services.

Answer: True

Question 5 The marginal utility of the 6t unit of Product C is calculated at negative 8. This means
Not yet that:
answered

Marked out of Select one:

1.00
a. All of the choices

b. Consuming the 9th unit of Product C will give additional satisfaction

c. The consumer is already satisfied with 7 units of Product C.

d. None of the choices

Question 6 The extra satisfaction you get from successive consumption of the same product is:
Not yet
answered
Select one:
Marked out of
1.00
a. Indifference Curve

b. Quantity Demanded
c. Marginal Utility

d. Total Satisfaction

Question 7 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
Indifference curves are positively sloped.

Answer: False - negatively

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1/11/2019 Quiz 003
Question 8 A diagram with more than one indifference curve is called:
Not yet
answered
Select one:
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a. Indifference Map

b. Consumption Map

c. Substitution Map
d. Preference Map

Question 9 The curve showing the highest level of satisfaction is situated:

Not yet
answered
Select one:
Marked out of
a. Nearest from the point of origin
1.00
b. Below another indifference curve

c. None of the choices

d. Farthest from the point of origin

Question 10 True or False. If the statement is true, write the word True. If False, write False
Not yet and replace the underlined word with the correct term. Note that the system
answered
accepts an exact answer. Wrong spelling is considered wrong.
Marked out of
1.00 For example:
Q: Whales are reptiles. A: False - mammals
The consumer equilibrium is that point of intersection between the price line and the
indifference curves.

Answer: False - tangent

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