If a natural monopoly is subject to fair price regulation, it will require a subsidy to remain in business

Property rights assure people that

A) the government will not confiscate their income or savings. B) the government will provide a minimum standard of living. C) the factors of production and goods are owned jointly by the government and the people. D) economic growth will enhance government involvement in the economy. E) international trade will be limited.

If consumers spend their income either on gasoline or food, then an increase in the price of gasoline rotates the budget line

A) inward along the "food" axis. B) outward along the "food" axis. C) inward along the "gasoline" axis. D) outward along the "gasoline" axis.