Which of the Following Statements Is Correct

question 7

Multiple Choice

Which of the following statements is correct?

• A) Along the budget line, consuming more of one good implies consuming more of the other.
• B) The slope of the budget line shows the opportunity cost of the good measured along the x-axis.
• C) The slope of the budget line shows there is no tradeoff between the two goods because the consumer can buy each of them.
• D) If the consumer's budget increases, the budget line shifts leftward and its slope does not change.
• E) None of the above answers is correct.

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Definitions:

Reasoning Fallacy

A flaw or error in reasoning that undermines the logical validity of an argument.

Alternative Explanations

Different reasons or theories provided to account for a phenomenon or observation.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment, often requiring skepticism and the questioning of assumptions.

Gender Expectations

Socially constructed norms and beliefs about the behaviors and attributes considered appropriate for men and women in a given society.