A consumer's budget line will shift to the left in a parallel manner if:
a. the price of the good on the X-axis increases.
b. the price of the good on the Y-axis increases.
c. the consumer's income increases
d. the consumer's income decreases.
d
You might also like to view...
With respect to diffusion of responsibility,
A) the larger the group, the more likely that any one individual will act. B) the larger the group, the less likely that any one individual will act. C) the size of the group has no bearing on the likelihood of any one individual to act. D) individuals are likely to take no action only if the group of individuals is small.
Generating electricity creates air pollution. This industry, if left unregulated, will produce at an inefficient market equilibrium because
A) there is a deadweight loss. B) supply is not equal to demand. C) too little output is produced. D) the marginal social benefit is greater than the marginal social cost.
Explain why funds available to pay the fixed inputs are equal to the area of the triangle below the value of marginal product of labor (VMP) and above the wage
In the short-run, if the Federal Reserve increases interest rates, then consumption and investment ________, planned aggregate expenditure ________, and short-run equilibrium output ________.
A. increase; decreases; decreases B. decrease; decreases; decreases C. increase; increases; increases D. increase; increases; decreases