Refer to the graph below.Which of the shifts explains what would happen to the production possibility curve if restrictions were imposed on tuna fishing?

When the nominal price of a good increases over time, the real cost of buying the good

A) must increase. B) decreases because income also increases over time. C) does not change because income also increases over time. D) might increase, decrease, or stay the same depending on how much the CPI changed. E) might increase, decrease, or stay the same depending on how much income changed.

The above figure shows Larry's indifference map and budget lines for ham and pork. Which of the following statements is TRUE?

A) Pork is an inferior good. B) Ham is an inferior good. C) Neither pork nor ham is an inferior good. D) Both ham and pork are inferior goods.