Joe's income is $500, the price of food (f) is $2 per unit, and the price of shelter (s) is $100. which of the following represents his budget constraint?
a) 500 = 2f + 100s.
b) f = 250 - 50s.
c) s = 5 - .02f.
d) all of the above.

Atrough in the business cycle occurs when

Given the following information, calculate the savings ratio: liabilities = $25,000 liquid assets = $5,000 monthly credit payments = $800 monthly savings = $760 net worth = $75,000 current liabilities = $2,000 take-home pay = $2,300 gross income = $3,500 monthly expenses = $2,050 multiple choice 2.40% 3.06% 34.78% 33.79% 21.71%

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.