-Lizzie's budget line is shown in the figure above. If the price of a cookie rises, Lizzie's real income in terms of cookies ________ and her real income in terms of magazines ________.
Definitions:
Trust Fund
A fund comprised of a variety of assets intended to provide benefits to an individual or organization.
Effective Rate
is the interest rate on a loan or financial product, restated from the nominal rate as an annual rate that may incorporate compounding.
Endowment Fund
A financial endowment given to institutions like universities, museums, and non-profits to invest and use the annual income from investments for operations or programs.
Perpetuity
A financial instrument that pays a steady, never-ending stream of cash flows to the investor.
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