Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Mr. Lingle's budget constraint is AC. Point E is
A. not in Mr. Lingle's opportunity set but is on his budget constraint.
B. an available option and Mr. Lingle exactly spends all of his income.
C. an available option and Mr. Lingle does not spend all of his income.
D. not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.
Answer: C
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
?
The silverware industry has been in serious decline since the 1980s. Family dining habits are less formal so people purchase less silverware. More recently, the price of silver jumped from $5 to $20 per ounce. Which graph in Figure 4-12 best illustrates these developments?
A. 1 B. 2 C. 3 D. 4
In the Thomas (1954) model,
(a) all nations near the Atlantic Ocean were considered one economic unit. (b) laborers, capital and other resources freely move to those users with the highest net returns. (c) the European economy moved inversely in relation to the U.S. economy and vice versa. (d) all of the above are true.
If the government's spending exactly equals its revenues during a budget year, that government is
A) running a budget deficit. B) experiencing a budget surplus. C) balancing its budget. D) paying off its public debt.