Multiple Choice
What is indicated by a parallel shift of the budget line?
A) The substitution effect
B) A change in the preferences
C) The total effect of a price change
D) The income effect of either a price change or an income change
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q5: Which of the following diagrams corresponds to
Q6: In the neo-classical model of labour supply,
Q7: Which of the following statements most closely
Q8: Figure 2.5 (b) in the text explains
Q9: The wage rate at which the individual
Q11: Our income-leisure model suggests that moonlighting may
Q12: The portion of the population that is
Q13: Which of the following statements is false?<br>A)
Q14: All of the following patterns of labour
Q15: Which of the following statements applies to