Refer to the figure above. A change in the budget constraint from B1 to B2 indicates:
A) an increase in the price of sweaters.
B) a decrease in the price of sweaters.
C) an increase in the consumer's income.
D) a decrease in the consumer's income.
B
Economics
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On an annual basis, Americans spend about as much on health care as they do on
A) food. B) clothing. C) transportation. D) housing.
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When OPEC's manipulation of oil supplies in 2000 doubled the price of energy, according to the AS/AD model, the
a. aggregate supply curve shifted to the right b. aggregate supply curve shifted to the left c. the aggregate demand curve shifted to the right d. aggregate demand curve shifted to the left e. price level in the economy fell
Economics