Real income can be measured by

A) the slope of the budget line.
B) the area under the budget line.
C) the length of the budget line.
D) an intercept of the budget line.


D

Economics

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The formula to compute the spending multiplier is:

a. 1 / (MPC + MPS). b. 1 / (1 ? MPC). c. 1 / (1 ? MPS). d. 1 / (C + I).

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The labor-supply curve is affected by the trade-off between labor and leisure

a. True b. False Indicate whether the statement is true or false

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If the price of a good ____________, the demand for its complements will __________

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