When isolating the substitution effect of a change in an individual's budget constraint, _____ is held constant

If a corporation borrows capital for a specified period of time at an agreed-upon interest rate, this is a

a. common stock b. preferred stock c. convertible stock d. bond e. double tax

When new goods are introduced, consumers have more variety from which to choose. As a result, each dollar is worth

a. more, and the cost of living increases. b. more, and the cost of living decreases. c. less, and the cost of living increases. d. less, and the cost of living decreases.