Refer to the information provided in Figure 6.7 below to answer the question(s) that follow.
Figure 6.7Refer to Figure 6.7. Along budget constraint AB, the price of good X is $25 and the price of good Y is $18. If the price of Y decreases to $14, the budget constraint will
A. pivot in at point B.
B. pivot in at point A.
C. shift in parallel to AB.
D. pivot out at point A.
Answer: D
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The country with the highest degree of central bank independence in the period 1973-88 was ________
A) the United States B) New Zealand C) Spain D) Germany
If the U.S. government starts to sell off its stockpile of cheese,
a. consumers will be less willing to purchase cheese. b. the equilibrium quantity demanded will rise. c. farmers will hoard the cheese they produce. d. the quantity of cheese that spoils before sale will rise.
In the United States in 2014, the percentage of people who received health insurance through their employer was about
A) 15%. B) 36%. C) 55%. D) 83%.
In the above figure, a change in autonomous consumption to 100 would cause the consumption function to
A) become steeper. B) become flatter. C) shift down. D) shift up.