The slope of a budget line:
a. is the negative of the price ratio, -PX/PY
b. depends on income
c. depends on preferences.
d. is positive.
a
You might also like to view...
Legislators who must stand for re-election every two years will tend to support
A) policies beneficial to all the people eligible to vote. B) policies beneficial to all the people now living. C) policies beneficial to all present voters and future generations of voters. D) policies promising early benefits and deferred costs. E) policies representing the public interest.
In seeking to explain what determines GDP, monetarists focus on the money supply while Keynesians focus on the spending components of total expenditures
Indicate whether the statement is true or false
Which is true with respect to the demand data confronting a monopolist?
A. Demand is perfectly price inelastic. B. Price increases as the output of the firm increases. C. Marginal revenue is less than price. D. Marginal revenue increases as price decreases.
In the context of labor markets, shirking refers to:
A. the nonmonetary disadvantages of certain jobs. B. the neglecting or evading of work. C. the elimination of monitoring costs. D. any scheme where pay is directly related to worker output.