On a Graph We Draw a Consumer's Budget Constraint, Measuring

question 86

Multiple Choice

On a graph we draw a consumer's budget constraint, measuring the number of pineapples on the horizontal axis and the number of pencils on the vertical axis. If the slope of the budget constraint is -6, then

• A)a pencil costs six times as much as a pineapple.
• B)the opportunity cost of a pineapple is one-sixth of a pencil.
• C)the opportunity cost of a pencil is six pineapples.
• D)a pineapple costs six times as much as a pencil.

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Definitions:

Financial Security

The state of having stable income or resources to cover expenses and withstand economic fluctuations without undue hardship.

Disability

A physical or mental condition that limits a person's movements, senses, or activities.

GST/HST

Stands for Goods and Services Tax/Harmonized Sales Tax; a value-added tax levied on most goods and services sold for domestic consumption in Canada.

Car Operating Costs

Expenses associated with the use of a car, including fuel, maintenance, insurance, and depreciation.