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.
Answer: A
Economics
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An increase in both supply and demand must increase both equilibrium price and quantity.
a. true b. false
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Which of the following is a government purchase?
a. The income tax b. The property tax c. Social Security benefits paid to a retired government worker d. Food stamps e. The salary of a federal judge
Economics