If the price of X falls, the budget constraint
a. shifts outward in a parallel fashion.
b. shifts inward in a parallel fashion.
c. rotates outward about the X-intercept.
d. rotates outward about the Y-intercept.
d
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A characteristic of the inflation rate is that ________
A) it typically goes down in a boom B) it typically goes up in a recession C) it is a lagging indicator D) all of the above E) none of the above
Which one of the following does NOT contribute to economic growth?
A) increases in the price level B) the growth of capital and labor productivity C) the growth of the labor force D) the growth of the capital stock
The main shortcoming of the market, in the view of many,
A. lies in the arena of justice and injustice. B. lies in the area of consumer goods production. C. is its inability to stimulate the creation of new products. D. is its drag on growth in productivity.
A significant portion of actual world trade patterns results from
A. different sizes of the countries. B. different factor endowments between countries. C. the industrial policies of governments. D. the different tastes and preferences of people in different countries.