A decrease in the price of either good will cause a consumer's budget constraint to:
A) pivot leftward.
B) pivot rightward.
C) shift leftward.
D) shift rightward.
B
You might also like to view...
In comparison with a perfect competition, a single-price monopolist with the same costs creates a ________ consumer surplus and makes a ________ economic profit
A) smaller; larger B) smaller; smaller C) larger; larger D) larger; smaller
The poorest 20 percent of the U.S. population received approximately ____ of total income
a. 5 percent b. 10 percent c. 15 percent d. 20 percent
Which of the following is a certificate of indebtedness?
a. stocks and bonds b. stocks but not bonds c. bonds but not stocks d. neither stocks nor bonds
Consider the IS-LM curves for an economy with flexible exchange rates. An increase in the foreign income will result in the:
A) LM curve shifting to the right. B) IS curve shifting to the right. C) LM curve shifting to the left. D) IS curve shifting to the left.