Lizzie's budget line is shown in the figure above. Lizzie's real income in terms of cookies is ________ cookies
A) 5
B) 10
C) 15
D) 20
D
You might also like to view...
Benefit-cost analysis identifies the
a. allocatively efficient level of risk b. the level of risk at which MSB and MSC of risk reduction are equal c. both (a) and (b) d. none of the above
After the Civil War, per capita income in the South was relatively low compared with other regions of the United States. Which of the following statements best describes how long it took the South to (almost but not quite. catch up with the rest of the country)
a. About one year. b. About five to ten years. c. About twenty five years. d. Several generations.
All of the nation's banks were closed in the first week of March, in the year
A. 1930. B. 1931. C. 1932. D. 1933.
Classical economists predicted that population growth would eventually reduce economic growth because they believed:
A. in the law of diminishing marginal productivity. B. in the law of increasing marginal productivity. C. that production involved increasing returns to scale. D. that production involved decreasing returns to scale.