Assume the price of product Y (the quantity of which is on the vertical axis) is $15 and the price of product X (the quantity of which is on the horizontal axis) is $3. Also assume that money income is $60. The absolute value of the slope of the resulting budget line is
What will be an ideal response?
1/5.
Economics
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Refer to the above table. Demand is least price elastic at a price of
A) $10.00. B) $7.50. C) $7.00. D) $5.00.
Economics
Which of the following would be considered income in kind?
A) tax refunds B) food stamps C) yard sales D) reduction in the tax rates
Economics
A risk premium is additional interest, in excess of the market rate, that a bondholder receives in order to compensate him for
a. systematic risk. b. inflation. c. default risk. d. the bond discount.
Economics
Which of the following restricts the volume of international trade?
a. stable prices b. tariffs c. the law of comparative advantage d. stable international monetary system
Economics