Suppose the quantity of sodas and the quantity of popcorn are on an indifference curve/budget line diagram. An increase in income shifts the budget line ________ and, if popcorn is a normal good, shifts the demand curve for popcorn ________
A) rightward; rightward
B) rightward; leftward
C) leftward; rightward
D) leftward; leftward
A
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The product life cycle theory of comparative advantage predicts that a new product will be first produced and exported by:
a. the nation that first demanded the new product. b. the first firm to successfully copy the technology. c. the nation in which it was invented. d. the countries with the most stable economies and the fewest restrictions on foreign trade. e. the company with the most extensive network of international distributors for the product.
According to the World View titled "Income Share of the Rich," in which of the following would the top tenth of the population be most likely to receive the highest percentage of the country's income?
A. Japan. B. Germany. C. Haiti. D. The United States.
Which of the following occupations would use economic analyses in their real world jobs?
A. store manager B. teacher C. environmental regulator D. All of these are correct.
In economics, "investment" refers only to the creation of new capital.
Answer the following statement true (T) or false (F)