The exchange rate is the price of one currency in terms of another

If all prices rise by 5 percent and money income remains constant, the new budget line will have

A) a steeper slope. B) a flatter slope. C) a positive slope. D) the same slope.

Because many good substitutes exist for a competitive firm's product, the demand curve that it faces is

a. unit-elastic. b. perfectly inelastic. c. perfectly elastic. d. inelastic only over a certain region.