Suppose all prices double and income also doubles.Which statement is true?
A) The budget line does not change.
B) The slope of the budget line increases.
C) The slope of the budget line decreases.
D) The budget line shifts rightward.
E) The budget line shifts leftward.
Correct Answer:
Verified
Q5: When speaking of the price of the
Q6: Use the figure below to answer the
Q7: If the price of the good measured
Q8: If the price of the good measured
Q9: If income decreases,the budget line
A)becomes steeper.
B)becomes flatter.
C)shifts
Q11: David has an income of $60 to
Q12: Real income is calculated as
A)income divided by
Q13: Use the figure below to answer the
Q14: The budget line depends on
A)income only.
B)prices only.
C)income
Q15: If income increases,the budget line
A)becomes steeper.
B)becomes flatter.
C)shifts
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