Figure: Budget Lines for Tea and Scones
Reference: Ref 10-4
(Figure: Budget Lines for Tea and Scones) Look at the figure Budget Lines for Tea and
Scones. For months now, Agnes has had $20 per month to spend on tea and scones. The
price of each cup of tea and each scone has been $1. Which of the charts in the figure shows
what will happen to her budget line if her income decreases to $10?
76. Multiple Choice: Figure: Budget Lines for Tea and Scon…
Question
Points: 0
Figure: Budget Lines for Tea and Scones
Reference: Ref 10-4
(Figure: Budget Lines for Tea and Scones) Look at the figure Budget Lines for Tea and
Scones. For months now, Agnes has had $20 per month to spend on tea and scones. The
price of each cup of tea and each scone has been $1. Which of the charts in the figure shows
what will happen to her budget line if the price of a cup of tea falls to $0.50?
77. Multiple Choice: Figure: Budget Lines for Tea and Scon…
Question
Points: 0
Figure: Budget Lines for Tea and Scones
Reference: Ref 10-4
(Figure: Budget Lines for Tea and Scones) Look at the figure Budget Lines for Tea and
Scones. For months now, Agnes has had $20 per month to spend on tea and scones. The
price of each cup of tea and each scone has been $1. Which of the charts in the figure shows
what will happen to her budget line if the price of a scone rises to $2?
78. Multiple Choice: Figure: Budget Lines for Tea and Scon…
Question
Points: 0
Figure: Budget Lines for Tea and Scones
Reference: Ref 10-4
(Figure: Budget Lines for Tea and Scones) Look at the figure Budget Lines for Tea and
Scones. For months now, Agnes has had $20 per month to spend on tea and scones. The
price of each cup of tea and each scone has been $1. Which of the charts in the figure shows
what will happen to her budget line if the price of both a cup of tea and a scone increase to
$2?
79. Multiple Choice: Faruq spends all of his income on two…
Question Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the
price of tacos is $10, and the price of milkshakes is $2. Put tacos on the horizontal axis and
milkshakes on the vertical axis. The horizontal intercept for Faruq’s budget line is equal to
________ tacos.
80. Multiple Choice: Faruq spends all of his income on two...
Question
Points: 0
Points: 0
Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the
price of tacos is $10, and the price of milkshakes is $2. Put tacos on the horizontal axis and
milkshakes on the vertical axis. The slope of Faruq‘s budget line is equal to:
81. Multiple Choice: Faruq spends all of his income on two...
Question Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the
price of tacos is $10, and the price of milkshakes is $2. Put tacos on the horizontal axis and
milkshakes on the vertical axis. The opportunity cost of one taco equals ________
milkshakes.
82. Multiple Choice: Faruq spends all of his income on two...
Question Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the
price of tacos is $10, and the price of milkshakes is $2. If Faruq purchases 10 milkshakes,
he can purchase ________ tacos.
83. Multiple Choice: Faruq spends all of his income on two...
Question Faruq spends all of his income on two goods: tacos and milkshakes. His income is $100, the
price of tacos is $10, and the price of milkshakes is $2. The opportunity cost of one
milkshake is equal to ________ tacos.
Points: 0
Points: 0
Points: 0
84. Multiple Choice: Chuck spends all of his income on two…
Question Chuck spends all of his income on two goods: tacos and milkshakes. His income is $100,
the price of tacos is $10, and the price of milkshakes is $2. If the price of each good doubles
and Chuck‘s income doubles, which of the following statements is correct?
85. Multiple Choice: Chuck spends all of his income on two…
Question Chuck spends all of his income on two goods: tacos and milkshakes. His income is $100,
the price of tacos is $10, and the price of milkshakes is $2. Put tacos on the horizontal axis
and milkshakes on the vertical axis. The vertical intercept for Chuck‘s budget line is equal to
________ milkshakes.
86. Multiple Choice: Joe‘s budget line reflects the ______...
Question Joe’s budget line reflects the ________ available to Joe if he spends ________ of his income.
87. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Points: 0
Points: 0
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, ________ in the price of clams would rotate the budget line along the ________ axis
________ the origin.
88. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, ________ in the price of potatoes would rotate the budget line along the ________ axis
________ the origin.
89. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, ________ in the price of clams would rotate the budget line along the ________ axis
________ the origin.
90. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, ________ in the price of potatoes would rotate the budget line along the ________ axis
________ the origin.
91. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, an increase in income would:
92. Multiple Choice: Figure and Table: The Budget Line&nbs...
Question
Points: 0
Figure and Table: The Budget Line
Reference: Ref 10-5
(Figure and Table: The Budget Line) Look at the figure and table The Budget Line. In the
figure, a decrease in income would:
93. Multiple Choice: A consumer’s spending is restricted b...
Question A consumer‘s spending is restricted because of:
94. Multiple Choice: Whatever the time period involved, Mo…
Question Whatever the time period involved, Molly‘s spending will be ________ by her ________.
Answer unlimited; marginal utility
Points: 0
Points: 0
95. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom …
Question Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. Which of
the following combinations of music downloads and movies lies on Tom’s budget line?
Answer 50 music downloads and 10 movies
96. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom …
Question Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. Which of
the following combinations of music downloads and movies lies inside Tom’s budget line?
(Tom can afford this combination, but he will not be spending the entire $50.)
Answer 50 music downloads and 10 movies
97. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom …
Question
Points: 0
Points: 0
Points: 0
Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. Which of
the following combinations of music downloads and movies lies outside Tom’s budget line?
(Tom cannot afford this combination.)
98. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom …
Question Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. If we
measure music downloads on the horizontal axis and movies on the vertical axis, the vertical
intercept of Tom’s budget line is:
99. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom …
Question Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. If we
measure music downloads on the horizontal axis and movies on the vertical axis, the
horizontal intercept of Tom’s budget line is:
Points: 0
Points: 0
100. Multiple Choice: Scenario: Tom‘s Budget ConstraintTom ...
Question Scenario: Tom‘s Budget Constraint
Tom is trying to decide how to allocate his $50 budget for music downloads and online movie
streaming when the price of a music download is $1 and the price of a movie is $5.
Reference: Ref 10-6
(Scenario: Tom’s Budget Constraint) Look at the scenario Tom’s Budget Constraint. If we
measure music downloads on the horizontal axis and movies on the vertical axis, the slope of
Tom’s budget line is:
101. Multiple Choice: The slope of a budget line for a cons…
Question The slope of a budget line for a consumer buying two goods is equal to the ________ of the
price of the good on the ________ axis divided by the price of the good on the ________ axis.
Answer positive; vertical; horizontal
102. Multiple Choice: A line representing all the possible ...
Question A line representing all the possible combinations of two commodities that a consumer can
purchase at a particular time, given the market prices of the commodities and the consumer’s
income, is:
103. Multiple Choice: An increase in a consumer’s income wi…
Question An increase in a consumer‘s income will do all of the following except:
Points: 0
Points: 0
Points: 0
Points: 0
104. Multiple Choice: A decrease in a consumer‘s income wil...
Question A decrease in a consumer‘s income will do all of the following except:
105. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question Figure: Budget Lines for Oranges and Apples
Reference: Ref 10-7
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges
and Apples. For some time, Antonio has had $5 per month to spend on oranges and apples.
The price of an orange is $0.50 and the price of an apple is $0.25. Which of the charts shows
what will happen to his budget line if his income increases to $6?
Points: 0
Points: 0
106. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question Figure: Budget Lines for Oranges and Apples
Reference: Ref 10-7
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges
and Apples. For some time, Antonio has had $5 per month to spend on oranges and apples.
The price of an orange is $0.50 and the price of an apple is $0.25. Which of the charts shows
what will happen to his budget line if his income decreases to $2.50?
107. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question
Points: 0
Points: 0
Figure: Budget Lines for Oranges and Apples
Reference: Ref 10-7
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges
and Apples. For some time, Antonio has had $5 per month to spend on oranges and apples.
The price of an orange is $0.50 and the price of an apple is $0.25. Which of the charts shows
what will happen to his budget line if the price of an orange falls to $0.25?
Answer Chart A
108. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question
Points: 0
Figure: Budget Lines for Oranges and Apples
Reference: Ref 10-7
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges
and Apples. For some time, Antonio has $5 per month to spend on oranges and apples. The
price of an orange is $0.50 and the price of an apple is $0.25. Which of the charts shows
what will happen to his budget line if the price of an apple rises to $0.50?
109. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question
Points: 0
Figure: Budget Lines for Oranges and Apples
Reference: Ref 10-7
(Figure: Budget Lines for Oranges and Apples) Look at the figures Budget Lines for Oranges
and Apples. For some time, Antonio has had $5 per month to spend on oranges and apples.
The price of an orange is $0.50 and the price of an apple is $0.25. Which of the charts shows
what will happen to his budget line if the price of an orange rises to $1.00 and the price of an
apple rises to $0.50?
110. Multiple Choice: Figure: Budget Lines for Oranges and ...
Question
Points: 0