Assume that a consumer purchases only two products and there is a decrease in the consumer's income. The prices of the two products stay constant. The decrease in income will result in a:
A. Shift of the budget line inward to the left
B. Shift of the budget line outward to the right
C. A decrease in the slope of the budget line
D. An increase in the slope of the budget line
Answer: A
Economics
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A) the money supply will increase, interest rates will rise and GDP will rise. B) the money supply will decrease, interest rates will fall and GDP will fall. C) the money supply will decrease, interest rates will rise and GDP will fall. D) the money supply will increase, interest rates will fall and GDP will rise.
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For a monopsonist:
a. wage > TWC. b. wage > MFC. c. wage = MFC. d. wage = MRP. e. wage < MFC
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