Refer to Budget Lines. If the consumer purchased basket D last year and basket A this year,
a. They are definitely better off this year than last year.
b. They were definitely better off last year than this year.
c. They could be equally well off in the two years.
d. It is impossible to tell wether they are better or worse off, even if we knew the person's preferences.
c. They could be equally well off in the two years.
Economics
You might also like to view...
High levels of sales that spur high levels of investment spending is an example of a
a. vicious circle. b. virtuous circle. c. convergence circle. d. divergence circle.
Economics
The form of risk to the investor associated with the asset unexpectedly falling in price is called
A. complete risk. B. overall risk. C. market risk. D. default risk.
Economics