Assume That Vera Has $30 in Income and That the Price

question 107

Multiple Choice

Assume that Vera has $30 in income and that the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3.If Vera's income increases from $30 to $45,the rational spending rule would predict that Vera would buy

• A) more bread and less peanut butter.
• B) more bread and more peanut butter.
• C) less bread and more peanut butter.
• D) less bread and less peanut butter.
• E) more bread and the same amount of peanut butter.

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Definitions:

Humanism

In the Renaissance, an emphasis on education and on expanding knowledge (especially of classical antiquity), the exploration of individual potential and a desire to excel, and a commitment to civic responsibility and moral duty.

Palazzo Medici-Riccardi

A Renaissance palace in Florence, Italy, which served as the main residence of the Medici family, showcasing the wealth and power of this influential family.

Michelozzo

An Italian architect and sculptor of the Renaissance, known for his collaboration with Donatello and for designing the Palazzo Medici Riccardi in Florence.

Santa Croce

A historic Franciscan church in Florence, Italy, known for its art and as the burial place of famous Italians.