Refer to the information provided in Figure 6.4 below to answer the question(s) that follow.
Figure 6.4Refer to Figure 6.4. Bill?s budget constraint is AC. If the bell peppers price decreases, Bill?s budget constraint will
A. swivel toward AD.
B. swivel toward AB.
C. remain at AC.
D. The budget constraint is not depicted on the diagram.
Answer: D
You might also like to view...
Which of the following factors will NOT cause a shift in the demand for a good?
A) A change in consumer incomes B) A change in the market price of the good C) A change in the number of consumers D) A change in tastes and preferences
When the slope of the total product curve is steep, the marginal product is
A) zero. B) negative. C) high. D) low. E) not defined.
Suppose it costs a farmer $1.00 to produce 1 unit of corn, $2.10 to produce 2 units of corn, and $3.30 to produce 3 units of corn. What's the marginal cost of producing 2 units of corn?
A) 0 B) 10 cents C) $1.10 D) $2.00 E) $2.10
The sum of the current account, capital and financial account, and official settlements account is
A) a positive number if the country has a trade surplus. B) a negative number if the country has a trade deficit. C) positive or negative depending on whether the domestic exchange rate is appreciating or depreciating. D) always equal to zero.