If the quantity of hamburgers is measured along the horizontal axis and the quantity of movies is measured along the vertical axis, an increase in the price of a movie would be shown by
A) shifting the budget constraint in towards the origin.
B) shifting the budget constraint out.
C) rotating the budget constraint around the horizontal intercept such that the new vertical intercept is closer to the origin.
D) making the budget constraint steeper.
Answer: C
Economics
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Assume that the M1 multiplier is 3 and the Federal Reserve sells $100 million worth of government securities. Bank reserves will
A) rise by $100 million. B) fall by $100 million. C) fall by $300 million. D) fall by $33.33 million.
Economics
A lower quantity demanded of a good reflects, ceteris paribus,
A. Lower income. B. Fewer units actually purchased. C. A higher price of the good. D. A downward shift of the supply curve.
Economics