If a Consumer's Budget Constraint Has a Slope That Is

question 49

Multiple Choice

If a consumer's budget constraint has a slope that is less than -1:

• A) the consumer gets more utility from good X than from good Y.
• B) the price of good X is less than the price of good Y.
• C) the consumer gets less utility from good X than from good Y.
• D) the price of good X is greater than the price of good Y.

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Definitions:

Marbury V. Madison

A landmark 1803 Supreme Court case that established the principle of judicial review in the United States, affirming the Court's power to declare laws unconstitutional.

Historical Significance

The importance of an event, person, or invention in history and its lasting impact on the future.

Gibbons V. Ogden

A landmark Supreme Court case in 1824 that clarified the federal government's power over interstate commerce, ruling in favor of a broad interpretation of the U.S. Constitution's Commerce Clause.