Junkfood Jill spends all of her income on jellybeans and cola. Suppose that Jill's income is $30, the price of a bag of jellybeans is $6, and the price of a bottle of cola is $2
If bags of jellybeans are graphed along the vertical axis and bottles of cola are graphed along the horizontal axis, what is the slope of the budget line? A) 3
B) -3
C) 1/3
D) -1/3
D
You might also like to view...
Refer to Figure 19-1. Which of the following would cause the change depicted in the figure above?
A) European productivity rises relative to American productivity. B) The U.S. removes a quota on wristwatches from the European Union. C) Americans increase their preferences for goods produced in the EU relative to American goods. D) The price level of goods produced in the EU increases relative to the price level of goods produced in the United States.
Which of the following statements best summarizes why bureaucrats tend to be budget maximizers?
a. The larger the budget, the more assured bureaucrats can be of having sufficient resources to complete a task. b. The larger the budget, the more power and prestige the bureaucrat wields. c. The larger the budget, the larger the workload of the bureaucrat. d. The larger the budget, the more work in the public interest the bureaucrat can undertake.