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Figure 21-5

question 369

Multiple Choice

Figure 21-5
(a)
(b) Figure 21-5 (a)  (b)      -Refer to Figure 21-5. Assume that a consumer faces the budget constraint shown in graph (a)  in January and the budget constraint shown in graph (b)  in February. If the consumer's income has remained constant, then what has happened to prices between January and February? A) The price of X has fallen, but there could not have been a change in the price of Y. B) The price of Y has fallen, but there could not have been a change in the price of X. C) The price of X has fallen, and the price of Y has risen. D) The price of Y has fallen, and the price of X has risen. Figure 21-5 (a)  (b)      -Refer to Figure 21-5. Assume that a consumer faces the budget constraint shown in graph (a)  in January and the budget constraint shown in graph (b)  in February. If the consumer's income has remained constant, then what has happened to prices between January and February? A) The price of X has fallen, but there could not have been a change in the price of Y. B) The price of Y has fallen, but there could not have been a change in the price of X. C) The price of X has fallen, and the price of Y has risen. D) The price of Y has fallen, and the price of X has risen.
-Refer to Figure 21-5. Assume that a consumer faces the budget constraint shown in graph (a) in January and the budget constraint shown in graph (b) in February. If the consumer's income has remained constant, then what has happened to prices between January and February?

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Definitions:

Extended Family

Refers to a family group that extends beyond the immediate nuclear family to include other relatives such as grandparents, aunts, uncles, and cousins.

Cousins

The children of one's aunt or uncle, considered one degree of consanguinity removed from oneself.

Maturation

The process of becoming mature; involves biological, psychological, or emotional changes that occur in human beings between birth and the end of adolescence.

Puberty

The developmental stage marking the onset of sexual maturity and the ability to reproduce, accompanied by physical and hormonal changes.

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