The Board of Governors of the Federal Reserve is part of a larger policy-making group called the

Which of the following will most likely happen when a person's income increases, other things equal?

a. The budget line will shift outward b. The budget line will become steeper c. The budget line will become flatter d. The indifference curves will shift outward e. The indifference curves will shift downward

A union that pursued a policy of restricting entry over time into the union would

A) see real wages hold constant over time at whatever premium they could get initially. B) also have to negotiate to be sure that all the members were able to find jobs. C) generate rising real wages for its membership over time as long as demand for union workers increased over time. D) fail to obtain benefits for their workers in excess of what the workers would get under open markets.