Suppose Morris earns $50 per week at his job and chooses to spend all of his income on either apples or biscuits. Suppose apples cost $5 per pound and a pack of biscuits costs $2 each. Which combination of fruits and biscuits will lie on Morris's budget constraint?
a. 6 pounds of apples and 12 packs of biscuits
b. 6 pounds of apples and 12 packs of biscuits
c. 5 pounds of apples and 8 packs of biscuits
d. 8 pounds of apples and 5 packs of biscuits
d
Economics
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Inflation decreases the growth of capital because
i. when the after-tax real interest rate falls, savings decreases. ii. velocity increases when inflation increases. iii. the higher the inflation rate, the higher is the true income tax rate on income from capital. A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Economics
There is an important role for government in a market capitalist economy.
a. true b. false
Economics