If We Observe That a Consumer's Budget Constraint Has Shifted

question 442

Multiple Choice

If we observe that a consumer's budget constraint has shifted inward, we can assume that the consumer will buy

• A)fewer normal goods and more inferior goods.
• B)more normal goods and fewer inferior goods.
• C)more normal goods and more inferior goods.
• D)fewer normal goods and fewer inferior goods.

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Definitions:

Rough Draft

A Rough Draft is an early version of a written document, used for brainstorming and organizing ideas before producing a final version.

Compactly

In a manner that uses space efficiently, often referring to the concise and effective arrangement of information or objects.

Common Scale

A standardized measurement or grading system used to compare different items or phenomena on the same basis.

Bar Graph

A graph displaying information using bars of different lengths, where each bar's length directly corresponds to its value.