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Author Question: Nick consumes two goods, chips and lemonade. Located on the x-axis is the quantity of chips and on ... (Read 205 times)

Kthamas

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on: Jun 29, 2018
Nick consumes two goods, chips and lemonade. Located on the x-axis is the quantity of chips and on the y-axis is the quantity of lemonade. The magnitude of the slope of the budget line equals the
 
  A) price of lemonade.
  B) price of chips.
  C) price of chips/price of lemonade.
  D) price of lemonade/price of chips.

Question 2

In the above figure, the shift from AD1 to AD2 might have been the result of
 
  A) an increase in government expenditure.
  B) a decrease in taxes.
  C) an increase in the quantity of money.
  D) All of the above answers are correct.


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qytan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Kthamas

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nathang24

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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