Multiple Choice
If the prices of food and non-food stay constant and consumers income doubles,what will happen to the budget line?
A) The budget line will stay unchanged.
B) The budget line will shift in toward the origin in a parallel fashion.
C) The budget line will shift out from the origin in a parallel fashion.
D) The budget line will change but we need more information to know how.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following statements is true?<br>A)
Q2: If consumers' income increases by one dollar
Q4: Suppose there is a reduction in the
Q5: All of the following statements are true
Q6: If consumers' income increases and the consumption
Q7: Joshua has income endowment of $1,000,the price
Q8: If one worker suppliers fewer hours of
Q9: If George treats home time as normal
Q10: A reduction in the price of good
Q11: Joshua has income endowment of $1,000,the