Sue consumes apples and bananas. Suppose Sue's income doubles and the prices of apples and bananas do not change. Sue's budget line will
A) shift leftward and its slope will not change.
B) remain unchanged.
C) shift rightward and its slope will not change.
D) shift rightward and become steeper.
C
Economics
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Refer to the above figure. Suppose the current aggregate demand is represented by AD2. If aggregate demand falls to line AD3, then
A) the new equilibrium will be at j. B) the new equilibrium will be at k. C) the new equilibrium real Gross Domestic Product (GDP) will be x. D) a new price level will be established at a.
Economics
There are many firms in an oligopolistic market
Indicate whether the statement is true or false
Economics