The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if the price of a steak dinner fell?
A) It would rotate inward around the vertical intercept, 10 lobster dinners.
B) It would rotate outward around the vertical intercept, 10 lobster dinners.
C) It would rotate inward around the horizontal intercept, 20 steak dinners.
D) It would rotate outward around the horizontal intercept, 20 steak dinners.
B
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Which of the following is a possible rationing device?
A) dollar price B) first-come-first-served C) brute force D) a and b E) a, b, and c
Speculators who act on the basis of bad forecasts harm
What will be an ideal response?
Each of the 15 members of the European Union that joined before May, 2004 use the euro as their currency
Indicate whether the statement is true or false