If the Consumer's Income and All Prices Simultaneously Decrease by One-Half

question 368

Multiple Choice

If the consumer's income and all prices simultaneously decrease by one-half, then the optimum consumption will

• A)shift outward relative to the original optimum.
• B)move leftward along the original budget constraint.
• C)shift inward relative to the original optimum.
• D)not change.

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Definitions:

Identifier Field

In databases, a specific column or attribute used to uniquely determine a record or row in a table, serving as a primary key or unique identifier.

Foreign Key

A column or set of columns in a relational database table that provides a link between data in two tables, used to maintain the integrity of the data by ensuring that relationships between tables remain consistent.

Primary Key

An attribute or set of attributes that uniquely identifies a record in a database table.

Expected Graduation Year

The year in which a student is anticipated to complete their academic degree program.