In the figure above, a decrease in the price of a bag of potato chips 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.
C
Economics
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Government purchases in national income accounts would include expenditures for payments of:
A. public assistance for military veterans. B. salaries for current U.S. military officers. C. Social Security checks to retirees. D. public assistance for welfare recipients.
Economics
The response of quantity demanded to price changes is shown by:
A. Price elasticity of demand. B. The determinants of demand. C. Opportunity cost. D. Income elasticity of demand.
Economics