If Josh's income increases, then
A. His entire budget constraint will shift away from the origin.
B. His indifference curves will shift away from the origin.
C. One end of his budget constraint will move away from the origin.
D. His entire budget constraint will shift toward the origin.
Answer: A
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If the government grants tax credits to first-time homebuyers, the supply of houses would increase and the price of housing would fall
Indicate whether the statement is true or false
Pollution taxes are intended to
A. reduce the budget deficit. B. incentivize firms to cut their pollution. C. reduce welfare of polluting firms. D. raise deadweight loss.
Suppose supply decreases and demand increases. What effect will this have on the price?
A. It will rise. B. It will fall. C. It will remain the same. D. It may rise or fall.
A technological improvement lowers the cost of producing corn. As a result, the price of a pound of corn ____ and the quantity of corn ____. Question 19 options:
A. falls; increases B. falls; does not change C. falls; decreases D. rises; decreases E. rises; increases