If food is measured on the horizontal axis of budget line diagram, and clothing is measured on the vertical axis, an increase in
a. the price of clothing will make the budget line steeper
b. income will make the budget line steeper
c. income will make the budget line flatter
d. the price of food will make the budget line steeper
e. the price of food will make the budget line flatter
D
You might also like to view...
As the amount of labor input increases ________. This means that the marginal product of labor (MPL) ________
A) the slope of the production function increases; goes up B) the slope of the production function falls; declines C) the slope of the production function falls; goes up D) the slope of the production function increases; declines E) none of the above
The other name for the National Labor Relations Act of 1935 is
A) the Wagner Act. B) the Taft-Hartley Act. C) the Clayton Act. D) the Wheeler-Lea Act.