An in-kind gift causes the budget line to:
A. rotate counterclockwise.
B. shift to the left in a parallel fashion.
C. shift to the right in a parallel fashion.
D. None of the statements is correct.
Answer: D
You might also like to view...
Consider a Wal-Mart supercenter and a 7-Eleven store. In the long run,
A) Wal-Mart or 7-Eleven may have economies of scale depending on how many customers are served. B) Wal-Mart will definitely have lower average costs because supercenters serve many more customers. C) The 7-Eleven store will definitely have lower average costs because their small stores are cheaper to build. D) Wal-Mart's average total cost will decline faster than the 7-Eleven store and experience diseconomies of scale. E) The 7-Eleven store's average total cost will be lower than Wal-Mart's and always experience economies of scale.
Other things equal, the supply of labor will be higher to a job that
a. requires a supervisor to closely monitor employee performance b. provides few opportunities for training c. has a starting time of midnight d. requires advanced skills or education e. has more amenities
There is empirical evidence on adverse selection in the used car market. One researcher found that owners of ________ try to sell them to ill-informed buyers while those of ________ cars try sell them to friends and family
a. lemons; good b. lemons; bad c. wrecked ones; expensive d. expensive ones; good
Which of the following do firms take advantage of to maintain high profits?
A. People tend to gravitate toward the default option. B. The government only fines companies that have over $2 million in sales each year. C. There is relatively little government oversight in the marketplace. D. People are unaffected by default options.