An increase in the price of a good causes
A) a change in the slope of the budget line.
B) an increase in the consumption of that good.
C) a rightward shift of the demand curve for that good.
D) a parallel rightward shift of the budget line.
A
You might also like to view...
A table which shows the quantities of a particular good or service that producers are willing to sell (supply) at various prices is known as a supply:
A. schedule. B. figure. C. curve. D. graph.
Individuals are more likely to engage in productive activities when institutions and policies
a. create a fair and unbiased judicial system. b. result in high and variable rates of inflation. c. transfer a large share of income through the political process. d. are used to centrally plan the economy.
If the firms in a market reach an agreement about pricing and output shares, we would call this
A. a cartel. B. a dominant strategy. C. a Nash equilibrium. D. a duopoly.
Which of the following reasons is not a likely explanation as to why college completion rates are greater, on average, for whites than for blacks?
A. Tuition costs are lower for whites than blacks. B. Whites have access to more financial capital to pay for college than blacks. C. Postcollege wages are higher for whites than for blacks. D. Whites are more able to postpone earnings at age 18 than are blacks. E. Whites have greater access to higher quality public education at the elementary and secondary level.