Multiple Choice
Which of the following is not correct?
A) An increase in income shifts a consumer's budget constraint outward.
B) An increase in the price of good X causes a consumer's budget constraint to rotate inward along the X axis.
C) A decrease in the price of good Y causes a consumer's budget constraint to rotate outward along the Y axis.
D) Changes in income affect the slope of the budget constraint as well as its location on a graph.
Correct Answer:
Verified
Correct Answer:
Verified
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