If we observe that a consumer's budget constraint has shifted outward, we can assume that the consumer will buy
a. fewer normal goods and more inferior goods.
b. more normal goods and fewer inferior goods.
c. more normal goods and more inferior goods.
d. fewer normal goods and fewer inferior goods.
b
Economics
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The majority of the income earned in the United States is paid in
A) wages. B) rent. C) profit. D) dividends. E) interest.
Economics
Suppose the prices of petroleum products, including gasoline and fuel oil, fell sharply. Which of the following would most likely occur as the result of the lower prices of petroleum products?
a. A reduction in the consumption of gasoline. b. An increase in demand for solar heating systems. c. An increase in demand for smaller, more efficient automobiles. d. A reduction in the demand for home insulation products.
Economics