finala

If corn and wheat are alternative pursuits for a

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: t an annual rate of 3.6 percent 8. Assume that a consumer can buy only two goods, A and B with an income of $100. The price of A is $10 and the price of B is $20. What is the slop of the budget line if A is measured horizontally and B is measured vertically? a) - 0.5 c) - 2.0 b) - 1.0 d) - 4.0 9. If there is an increase in the resources available within the economy, then a) the economy will be capable of producing fewer goods b) the economy will be capable of producing more goods c) the standard of living in the economy will decline d) Both B and C 10.If corn and wheat are alternative pursuits for a farmer, a change in the supply of corn will take place: a) When the price of corn changes b) When the price of wheat changes c) When the demand for corn changes d) When consumers want to buy more corn at the same price 11. Suppose that this fall the MC birdhouse Co. announced that they...
View Full Document

Ask a homework question - tutors are online