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- Refer to the Above Graph

Question 3

Multiple Choice

- Refer to the above graph. The shift of the budget line from AB to CD is consistent with: A) a decrease in money income. B) an increase in money income. C) an increase in the price of Good 1 and no change in the price of Good 2. D) a decrease in the price of Good 2 and no change in the price of Good 1.
- Refer to the above graph. The shift of the budget line from AB to CD is consistent with:


A) a decrease in money income.
B) an increase in money income.
C) an increase in the price of Good 1 and no change in the price of Good 2.
D) a decrease in the price of Good 2 and no change in the price of Good 1.

Correct Answer:

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