Multiple Choice
Assume the quantity of apples is measured on the horizontal axis and the quantity of oranges is measured on the vertical axis. If the budget line rotates upward, while keeping the same horizontal intercept, then:
A) the price of apples decreased.
B) the price of oranges decreased.
C) the available income increased.
D) the price of oranges increased
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Assume Joseph spends his entire income on
Q18: Assume Janet is risk-averse. Which of the
Q19: Assume Barbara likes driving fast, but hates
Q20: Marginal utility is the:<br>A) total happiness obtained
Q21: You have $64 to spend on fish
Q22: Robinson pays $100 for tickets to see
Q24: Ali inherits $10,000 from his great-great aunt
Q25: Assume that the quantity of CDs is
Q26: A budget line:<br>A) shows all the combinations
Q27: Assume the quantity of apples is measured