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QUESTION 5 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit x-axis at QUESTION 6 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit y-axis at QUESTION 7 When interest rate i increases (for example, from 5% to 10%), the budget constraint becomes a steeper line. True False

QUESTION 5 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit x-axis at QUESTION 6 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit y-axis at QUESTION 7 When interest rate i increases (for example, from 5% to 10%), the budget constraint becomes a steeper line. True False

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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QUESTION 5 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit x-axis at QUESTION 6 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit y-axis at QUESTION 7 When interest rate i increases (for example, from 5% to 10%), the budget constraint becomes a steeper line. True False
Transcribed Image Text:QUESTION 5 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit x-axis at QUESTION 6 •You have income $2000 this year, $1000 next year •Interest rate is i= 10% at US Bank We draw budget constraint on a graph (with c on x-axis and c' on y-axis). The budget constraint hit y-axis at QUESTION 7 When interest rate i increases (for example, from 5% to 10%), the budget constraint becomes a steeper line. True False
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