The Following Diagram Shows Two Budget Lines: a and B

question 303

Multiple Choice

The following diagram shows two budget lines: A and B. Which of the following could explain the change in the budget line from A to B?

• A)a simultaneous decrease in the price of X and the price of Y
• B)an increase in income
• C)a decrease in income and a decrease in the price of Y
• D)Both a and b are correct.

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Definitions:

Investment Account

An account held at a financial institution that is used for investing in securities, such as stocks, bonds, and mutual funds.

Withdraw

The process of withdrawing money from a bank account or investment.

Compounded Monthly

It's the practice of assessing interest each month, by adding up both the initial amount invested or borrowed and the subsequent interest that's accumulated over time.

GIC's Maturity

The fixed date when a Guaranteed Investment Certificate (GIC) expires and the principal amount is returned to the investor along with the accrued earnings.