Which of the following would be most likely to cause a change in the natural rate of unemployment?
September 3, 2020
What is the difference between movements along IS and LM curves and shifts of the entire curves?
September 3, 2020

a. Consider a consumer with preferences defined over x and y. Is it possible that they would choose to consume some of both commodities when their income is I but would choose to consume only x when their income is I’ > I? If so, depict such a case. Otherwise, explain why not.

b. Conversely, is it possible that they would choose to consume only x when their income is I but would choose to consume x and y when their income is I’ > I? If so, depict such a case. Otherwise, explain why not.

KM
Place Order