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Author Question: If the quantity of good A (QA) is plotted along the horizontal axis, the quantity of good B (QB) is ... (Read 91 times)

APUS57

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on: Jul 1, 2018
If the quantity of good A (QA) is plotted along the horizontal axis, the quantity of good B (QB) is plotted along the vertical axis, the price of good A is PA, the price of good B is PB and the consumer's income is I, then the slope of the consumer's
 
  budget constraint is ________. A) -QA/QB
  B) -QB/QA
  C) -PA/PB
  D) -PB/PA
  E) I/PA or I/PB

Question 2

The reward for the capture of Jesse James was 500.00 in 1881. Suppose the CPI in 1881 was 0.25. What is the real value of the reward in 2010 dollars if the CPI was 218.1 in 2010?
 
  What will be an ideal response?


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bassamabas

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

218.1(500 )/0.25 = 218.1(2,000 ) = 436,200.


APUS57

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Reply #2 on: Jul 1, 2018
Thank you :)


bassamabas

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Reply #3 on: Jul 1, 2018
Happy to help you


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