Exhibit 1A-9 Multi-curve graph
Exhibit 1A-9 represents a three-variable relationship. As the annual income of consumers falls from $50,000 (line A) to $30,000 (line B), the result is a:
A. rightward movement along each curve.
B. leftward movement along each curve,.
C. leftward shift from curve A to curve B.
D. rightward shift from curve B to curve A.
Answer: C
Economics
You might also like to view...
Joe's monthly income increases from $1,000 to $2,000. As a result, he decreases the number of his fast food meals from 20 to 5 per month. To Joe, are fast-food meals a normal or an inferior good? What kind of elasticity can tell the answer? Explain
What will be an ideal response?
Economics
In determining real GDP, economists adjust the nominal GDP by using the:
A. national productivity index. B. wholesale (producers') price index. C. GDP price index. D. consumer price index.
Economics