Envision a graph with meat on the horizontal axis and vegetables on the vertical axis. A strict vegetarian would have indifference curves that are:
A) vertical lines.
B) horizontal lines.
C) diagonal straight lines.
D) right angles.
E) upward sloping.
B
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C = $750 + 0.75(1 - 0.4)y i = $600 g = $500 nx = -$50
Use the above data to: a. Calculate the equilibrium level of GDP b. Calculate the value of the expenditure multiplier c. Find the change in the initial equilibrium GDP if autonomous investment increases by $75. d. Find the change in the initial equilibrium GDP if autonomous government purchases decreases by $50. e. Find the change in the initial equilibrium GDP if autonomous net exports increase by $10.
Assume the price of Coca-Cola increases. As a result, your real income decreases and you decrease the quantity of Coca-Cola purchased each month. This is an example of the:
A. income effect. B. consumer price effect. C. revenue effect. D. substitution effect.