The slope of the budget line is equal to the ratio of:
a. marginal utilities.
b. money income to the price of the good on the horizontal axis.
c. money income to the price of the good on the vertical axis.
d. price of the good on the horizontal axis to the price of the good on the vertical axis.
d
You might also like to view...
Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 2 ice cream cones?
A) $1.50 B) $3.00 C) $5.50 D) $6.50
In a model with money neutrality, a 10% increase in the money supply leads to an increase of output by
A) more than 10%. B) 10%. C) less than 10%, but more than zero. D) zero.
In the U.S. during the late 1800s and early 1900s, investment banks:
a. emerged to serve the expansion of railroads, mining companies and large manufacturers. b. issued bank notes. c. competed with state and national banks for deposits. d. were required by law to maintain a minimum reserve ratio. e. All of the above.
Total revenue is:
A. cost multiplied by quantity of each item produced. B. price multiplied by quantity subtracted from total cost. C. price multiplied by quantity of each item sold. D. None of these is true.