Figure 1.1 -Refer to Figure 1.1. If Income at Zero Hours Worked

question 69

Multiple Choice

Figure 1.1
-Refer to Figure 1.1. If income at zero hours worked increases in Figure 1.1, then the relationship

• A) shifts down and to the right.
• B) becomes flatter.
• C) becomes steeper.
• D) shifts upward and to the left.

---

Definitions:

Economic Goods

Items or services that have a price and are scarce in relation to their demand, thus necessitating economic decision-making.

Scarce Resources

Raw materials, labor, and capital that are limited in availability, requiring societies to make decisions on their allocation and use.

Unit-Costs

Expenses a firm faces for producing, holding, and marketing one unit of a given product or service.

Restricts Trade

Actions or policies implemented by governments or economic entities to limit or control the exchange of goods and services across borders.