Solved

FIGURE 6- 10 -Refer to Figure 6- 10. the Line Joining Points E1

Question 24

Multiple Choice

  FIGURE 6- 10 -Refer to Figure 6- 10. The line joining points E1 and E3 is known as , which shows how . A)  an income consumption line; consumption changes as income changes, with relative prices held constant B)  a price consumption line; consumption changes as one price changes, with money income held constant C)  a price consumption line; consumption changes as money income and relative prices change D)  an income consumption line; consumption changes with changing relative prices and constant income FIGURE 6- 10
-Refer to Figure 6- 10. The line joining points E1 and E3 is known as , which shows how
.


A) an income consumption line; consumption changes as income changes, with relative prices held constant
B) a price consumption line; consumption changes as one price changes, with money income held constant
C) a price consumption line; consumption changes as money income and relative prices change
D) an income consumption line; consumption changes with changing relative prices and constant income

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions