The slope of the budget line will change
A) when the consumer's income increases.
B) when the consumer's taste changes.
C) when the total satisfaction changes.
D) when the price of one of the products changes.
Answer: D
You might also like to view...
The question of "What goods and services get produced?" most closely relates to which of the following issues?
A) obtaining specialized training to increase one's income B) building a missile defense system, or putting a computer in every elementary school classroom C) taxing high income workers to give payments to poor households D) the distribution of goods and services in the economy E) producing goods and services in the least costly manner
It is common to see convenience stores open 24 hours a day even though many times late at night or in the early hours of the morning there are very few customers. What can explain this seemingly odd behavior?
What will be an ideal response?
Suppose the U.S. can produce 10 units of food and 5 units of clothing (or any such linear combination) and Canada can produce 6 units of food and 4 units of clothing (or any such linear combination)
If trade occurs between these two countries, which should produce more food and which more clothing?
Suppose a U.S. government program subsidizes the production of domestic sugar producers and places a tariff (tax) on the importation of sugar from other countries. This program
What will be an ideal response?