Suppose there are only two goods, food and clothing, with food measured on the vertical axis. If the price of clothing changes, holding all else constant,
a. the budget line undergoes a parallel shift to the right
b. the budget line undergoes a parallel shift to the left
c. a new point of utility maximization will be reached
d. the budget line becomes flatter
e. the slope of the budget line remains constant
C
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If the current period has a CPI of 143, then the amount of inflation since the base period is
A) 143 percent. B) 157 percent. C) 57 percent. D) 43 percent. E) unknown without knowing the base period's CPI.
How are the domestic sellers and buyers of a good affected if a country starts importing the good?
What will be an ideal response?
According to a 1977 amendment to the Federal Reserve Act of 1913, what are the goals the Fed should promote?
As one of the New Deal programs, the WPA was a government agency that
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