A consumer's budget line will shift to the right in a parallel manner if:
a. the price of the good on the X-axis decreases.
b. the price of the good on the Y-axis increases.
c. the consumer's income increases
d. the consumer's income decreases.
c
Economics
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Jones and Smith are teaching assistants. Jones can grade 20 essays or 50 problem sets a day, while Smith can grade 20 essays or 10 problem sets a day. Therefore
A) Smith sacrifices 2 graded essays for every 2 problem sets she grades. B) Smith sacrifices 10 graded essays for every 20 problem sets she grades. C) Jones sacrifices 2 graded essays for every 5 problem sets he grades. D) Both Smith and Jones have a comparative advantage in grading essays.
Economics
If a taxpayer itemizes deductions, then an exemption is worth the same as a deduction
a. True b. False
Economics