Assume Px is the price of good X on the horizontal axis and Py is the price of good Y on the vertical axis. The slope of the budget line equals:

Since colonial times, the U.S. government controlled businesses at some level by:

(a) letting market actions and interactions between private consumers and producers drive decisions (b) regulating, licensing and closing them. (c) protecting private property rights. (d) providing national defense.

A reduction in the price level will cause the aggregate demand curve to shift to the left

a. True b. False Indicate whether the statement is true or false