Solved

Consider the Income and Consumption of an Individual Between Two

Question 71

Multiple Choice

Consider the income and consumption of an individual between two time periods.If consumption in period 2 (C2) is on the horizontal axis,consumption in period 1 (C1) is on the vertical axis,and the interest rate is 11 percent,the slope of the budget constraint must be _____.


A) 0.11
B) 0.9
C) 1.11
D) 11

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q65: Suppose consumption in year 2 (C<sub>2</sub>)is on

Q66: Being a member of the government-sponsored MediSave

Q67: A reduction in an individual's future income

Q68: Which of the following is true of

Q69: Phil and Jane,and their son Dylan,have $10,000

Q70: Brenda starts a business for $150,000 that

Q72: Figure 5-4 shows a family's preferences for

Q73: Figure 5-3 shows a family's preferences for

Q74: Describe the relationship among total utility,marginal utility,and

Q75: Use the following figure to answer the