Author Question: In the above figure if money income increases, the budget line A) shifts outward and its slope ... (Read 82 times)

jrubin · **on:** Jun 29, 2018

In the above figure if money income increases, the budget line

A) shifts outward and its slope does not change.
B) shifts inward and its slope does not change.
C) rotates outward and becomes steeper.
D) rotates outward and becomes more shallow.

Question 2

An economy has the income shares information in the table above. Which of the following is TRUE?

A) The information in the table represents the income distribution in the United States.
B) Income in the U.S. economy is more equally distributed than that represented in the table.
C) Income in the U.S. economy is less equally distributed than that represented in the table.
D) The information in the table represents the wealth distribution in the United States.