Which of the following combinations are attainable given a consumer's budget line?
a. Combinations that fall beyond the budget line
b. Combinations on the midpoint of the budget line
c. A combination involving the entire consumption of one good and zero consumption of the other good
d. Combinations that fall on the budget line
e. Combinations that fall inside the budget line
b. Combinations on the midpoint of the budget line
c. A combination involving the entire consumption of one good and zero consumption of the other good
d. Combinations that fall on the budget line
e. Combinations that fall inside the budget line
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Refer to Scenario 14.1. Marco and Lisette decide to help each other out and agree to split any medical bills from their doctor. With this new arrangement, this scenario resembles a
A) chicken game. B) assurance game. C) battle of the sexes game. D) prisoner's dilemma game.
If the price of a good increases, ________
A) the budget constraint shifts to the right B) the budget constraint shifts to the left C) the consumer surplus increases D) the consumer surplus decreases
With consumption on the vertical axis and leisure on the horizontal axis, the slope of the budget line is equal to
A) w. B) -w. C) ?. D) -?.
In a country with a working-age population of 200 million, 140 million people are employed and 20 million are unemployed. The size of the labor force is
What will be an ideal response?