Which of the following changes will shift the consumption function upward?
A. a decrease in wealth
B. an increase in real disposable income
C. a decrease real disposable income
D. an increase in wealth
Answer: D
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According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. increase by 35.
B. increase by 40.
C. decrease by 40.
D. increase by 75.
In the 1990s, what reduced the barriers to entry in the local telephone market?
(A) The end of a twenty-year patent on telephone technology. (B) The deregulation of the local telephone industry. (C) The rising popularity of cellular phones. (D) The licensing of new, smaller phone companies.
________: a graph of the locus of consumption bundles that provide a consumer a given level of satisfaction
Fill in the blank(s) with correct word
The egalitarian principle says
A. that the age-earnings cycle should determine income. B. that people should be compensated on the basis of what they produce. C. that everyone should have exactly the same income. D. that people should be compensated on the basis of their need.