If a Consumer's Income Rises

question 95

Multiple Choice

If a consumer's income rises,

• A)her indifference curves shift inward
• B)her indifference curves shift outward
• C)her budget line shifts outward
• D)her budget line shifts inward
• E)the slope of her budget line increases

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Definitions:

Critical Election

A pivotal election that signals significant changes in political alignments or party dominance.

Realigning Election

An election that results in a significant shift in the way voters align themselves politically, often leading to a long-term change in political landscape.

American Party System

The structured political party system in the United States, characterized by two major parties, the Democrats and Republicans, dominating electoral politics.

Third Parties

Political parties in a two-party system that are not one of the two dominant parties. They often struggle for representation and influence but can impact election outcomes and public policy debates.