Multiple Choice
The slope of a budget line is
A) the satisfaction level of both the commodities
B) the income level of the consumer
C) the price ratio of both the commodities under consideration
D) price level of a country
Correct Answer:
Verified
Correct Answer:
Verified
Q13: When individuals income falls (everything remain the
Q14: Indifference curves are<br>A)always parallel<br>B)may be parallel<br>C)may not
Q15: Which of the following statement is FALSE
Q16: If negative income effect is less than
Q17: The slope of a budget line throughout
Q19: According to Hicks substitution effect is<br>A)the movement
Q20: In the fundamental theorem of consumption and
Q21: At the point of tangency the slope
Q22: The substitution effect for a commodity is<br>A)is
Q23: Revealed preference theory assumes<br>A)weak ordering<br>B)strong ordering<br>C)constant ordering<br>D)multiple