Imagine a budget line depicting a consumer's possible allocation of a given income between fruit and vegetables. If the consumer's income increases at the same time the price of vegetables rises, the budget line's intercept with the

a. fruit axis will be unaffected
b. fruit axis will move toward the origin
c. vegetable axis will be unaffected
d. fruit axis will move toward the origin
e. vegetable axis might remain unchanged, move toward the origin, or move away from the origin

E

Economics

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Andrea invests $20,000 in tuition fees for her three years of college education. Had she worked those three years, she could have earned a total of $8,000 . Identify the correct statement from the following

a. The opportunity cost of her college education is $20,000. b. The investment cost of college consists of $20,000. c. The investment cost of her college degree is $28,000. d. The opportunity cost of her college education is $28,000.

Economics

By the year 2035, the percentage of the U.S. population over 65 years old is expected to: a. increase substantially. b. increase minimally. c. decrease minimally

d. decrease substantially.

Economics