Chris Budgets $30 This Week for Spending on His Two

question 69

Multiple Choice

Chris budgets $30 this week for spending on his two favorite things, pizza and movies.The price of a movie is $5.Moreover, he could buy 3 pizzas if he doesn't go to the movies.If pizza is on the horizontal axis, what is the slope of the budget line?

• A)2
• B)-1/2
• C)-1/3
• D)1/3
• E)-2

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Definitions:

Homogamy

The practice or tendency for individuals to marry others who share similar characteristics, such as socio-economic status, values, or ethnicity.

Open System

A social system with ample opportunities to move from one class to another.

Closed System

A physical system that does not allow certain types of transfers (such as transfer of mass) in or out of the system.

Structural Mobility

The mobility of individuals or groups within or between social strata, facilitated by changes in the economy or the social structure of a society, rather than by personal achievement.