In the figure above, an increase in income would result in the budget line
A) making a parallel shift toward point a.
B) making a parallel shift toward point c.
C) becoming flatter.
D) becoming steeper.
B
Economics
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If the demand for a good decreased, what would be the effect on the equilibrium price and quantity?
a. Price would increase, and quantity would decrease. b. Price would decrease, and quantity would decrease. c. Price would increase, and quantity would increase. d. Price would decrease, and quantity would increase.
Economics
Macroeconomics is concerned primarily with
A) large firms or multinational corporations. B) production and prices in particular markets. C) aggregate economic variables. D) normative issues.
Economics