Answer:
Thomas' real income now is half that it was (nominal income decreased by half or prices doubled)
Step-by-step explanation:
If you graph both cases you will see that the shift is parallel between one case and the other.
Changes in relative prices (this is, if only one of the goods change prices), would cause a rotation in the budget line
Answer:
Step-by-step explanation:
basic info:
base*height=area
if 4 cm reps 5cm,
you would multiple the base and height of the patio by 4
(4*8)*(4*4)=512 cm
Identify the SLOPE (m) and the Y-INTERCEPT (b).
To find the y-intercept, find the point where the line crosses the y-axis.
To find the slope, pick two points on the line that are easy to read.
Then see how many units up or down and how many units right or left you need to go from the first point to the second point. Divide the up or down (the rise) by the right or left (the run). That is the slope.
The equation is
y = mx + b,
where m = slope and b = y-intercept.
Answer:
i cant see the picture very well
Step-by-step explanation: