Assume the Quantity of Good X Is Measured on the Horizontal

question 62

Multiple Choice

Assume the quantity of good X is measured on the horizontal axis and the quantity of good Y on the vertical axis. Initial prices are PX = $5 and PY = $10. The consumer's income is $100. If PY increases to $20, then

• A) the budget line will rotate to the left across the horizontal axis, slope remaining constant.
• B) the entire budget line shifts to the left with its slope changing from 1/2 to 1/4 (in absolute values).
• C) the entire budget line will shift to the right.
• D) the budget line will rotate to the right down the horizontal axis with the slope changing from 1/4 to 1/2 (in absolute values).
• E) the budget line will rotate to the left down the vertical axis with the slope changing from 1/2 to 1/4 (in absolute values).

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Definitions:

Animal Research Procedures

The methods and protocols followed in conducting research involving animals, often focusing on ensuring ethical treatment and minimizing harm.

Visual Stimuli

Any object or element within the environment that can be seen and is used in psychological experiments to elicit a response from the participant.

Minimal Risk

A research criterion indicating that the likelihood and magnitude of harm or discomfort anticipated in the research are not greater than those encountered in daily life or during routine physical or psychological examinations.

Blood Pressure

The pressure of circulating blood on the walls of blood vessels, typically measured to assess heart health.