Eurobank spreads are less than U.S. spreads

Elasticity is a measure of the responsiveness of change in quantity demanded to a change in price

a. True b. False Indicate whether the statement is true or false

Which of the following statements is not correct?

A. A reduction in money income will shift the budget line to the right. B. A reduction in money income accompanied by an increase in product prices will necessarily shift the budget line to the left. C. An increase in product prices will shift the budget line to the left. D. An increase in money income will shift the budget line to the right.