Assume Bryce's budget constraint is represented by line C in the graph shown. Which of the following would cause Bryce's budget constraint to shift to A?
A. Bryce's income increased.
B. Bryce's income decreased.
C. Bryce's preferences for books and movies decreased.
D. Bryce's preferences for books and movies increased.
A. Bryce's income increased.
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How does private information create adverse selection and moral hazard?
What will be an ideal response?
Property that is owned by everyone and therefore by no one in particular is referred to as
A) common property. B) social property. C) private property. D) commercial property.
A larger budget deficit
a. raises the interest rate and investment. b. reduces the interest rate and investment. c. raises the interest rate and reduces investment. d. reduces the interest rate and raises investment.
Exhibit 8-6 Consumption function
?
In Exhibit 8-6, the level of autonomous consumption is:
A. $100. B. $150. C. $50. D. $0.