Slutsky Indifference Curve MCQs 1591 to 1595

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Slutsky Indifference Curve MCQs

  1. Which of the following statements is false with regard to the Slutsky substitution effect?
    • It is larger than the Hicksian substitution effect
    • It leads to a demand curve which is more elastic than the Hicksian demand curve
    • Consumption is on a different indifference curve than before the price change
    • It is given by a movement along the same indifference curve
  2. Slutsky keeps real income constant when the price of a commodity falls by
    • Keeping the consumer on the same indifference curve
    • Pushing the consumer to a lower indifference curve
    • Allowing the consumer to purchase the same basket of goods as before the price change
    • Allowing the consumer to purchase more of both commodities than before the price change.
  3. When real income rather than money income is kept constant in drawing a consumer’s demand curve for a commodity, the demand curve is negatively sloped
    • Always
    • Never
    • Sometimes
    • Often
  4. The substitution effect for a fall in the price of a commodity (ceteris paribus) is given by
    • A movement up a given indifference curve
    • A movement from a higher to a lower indifference curve
    • A movement down a given indifference curve
    • Any of the above
  5. The price-consumption curve for a straight-line demand curve extended to both axes
    • Falls throughout
    • Rises throughout
    • Falls and then rises
    • Rises and then falls
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Quiz with Answers

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Economics 1591-1595

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Which of the following statements is false with regard to the Slutsky substitution effect?

2 / 5

Slutsky keeps real income constant when the price of a commodity falls by

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The substitution effect for a fall in the price of a commodity (ceteris paribus) is given by

5 / 5

The price-consumption curve for a straight-line demand curve extended to both axes

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Slutsky Indifference Curve MCQs

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