A change in the slope of a budget constraint indicates:
A) a change in the price of either good that causes a change in the opportunity cost.
B) a change in the consumer's income.
C) a change in the price of either good without a change in the opportunity cost.
D) a change in the consumer's tastes and preferences.
A
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When the price level and the unemployment rate both rise, then the economy experiences cost-push inflation
Indicate whether the statement is true or false
Opportunity cost refers to how many inputs a producer requires to produce a good
a. True b. False Indicate whether the statement is true or false
Under a gold standard, a country with a trade deficit should expect gold to flow ________.
Fill in the blank(s) with the appropriate word(s).
Illegal immigration tends to:
A. increase average wages and employment where illegal workers are complements to domestic-born workers. B. increase average wages and employment where illegal workers are substitutes for domestic-born workers. C. increase average wages and employment whether illegal workers are complements to or substitutes for domestic-born workers. D. reduce average wages and employment whether illegal workers are complements to or substitutes for domestic-born workers.