The figure above shows the U.S. production function. From 1986 to 2008 the United States experienced major advances in technology as well as an increase in the working-age population. The combined effect can best be shown by a
A) movement from point W to point X.
B) movement from point Y to point Z.
C) movement from point Y to point X.
D) movement from point W to point Z.
D
Economics
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The figure above shows the demand for fruit snacks. Which movement reflects an increase in income if fruit snacks are an inferior good?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
Economics
Suppose that the consumer price index has risen from 100 to 200. From this information we can conclude that
a) each person's real income was cut in half b) consumer incomes are doubled c) the prices in an average consumer's basket have doubled d) all consumer good prices are doubled e) all prices in the economy are doubled
Economics