Lizzie's budget line is shown in the figure above. If Lizzie's income increases, her budget line
A) shifts rightward and its slope does not change.
B) shifts leftward and its slope does not change.
C) becomes flatter.
D) becomes steeper.
A
Economics
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One reason people store wealth is to help smooth consumption over time
Indicate whether the statement is true or false
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Why would it be a mistake to treat opportunity costs and explicit monetary costs as identical?
a. Because sometimes the market does not function well. b. Because opportunity costs are different for different goods. c. Because there are trade-offs involved in any decision. d. Because of existence of efficient markets.
Economics