In a graph of choice sets, a price change causes the slope of budget lines to change.
Answer the following statement true (T) or false (F)
True
Rationale: As the price of a good is reduced, the budget line swings outward.
Economics
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Explain the process of logrolling
What will be an ideal response?
Economics
A person who works part-time is considered to be:
a. employed b. unemployed. c. out of the labor force. d. overemployed.
Economics
Diminishing returns to labor occur for two primary reasons: 1) as we keep adding new workers, it becomes increasingly difficult to obtain productivity gains through additional specialization; and 2) each additional worker we add has less land and capital to work with
a. True b. False
Economics
If a good or service has only one seller, then the seller is called a monopoly
a. True b. False Indicate whether the statement is true or false
Economics