Assume That a Consumer Spends a Given Budget on Only

question 361

Multiple Choice

Assume that a consumer spends a given budget on only two goods and that the prices of the two goods are constant. The budget line in this case would

• A) definitely be a straight downward-sloping line.
• B) possibly be a straight upward-sloping line.
• C) be a curved graph bowed outward.
• D) be a curved bell-shaped graph.

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Definitions:

Guidelines

Recommended practices or principles designed to steer actions or decisions in specific situations.

Labor Relations

Is the process of dealing with employees who are represented by a union.

Represented

Pertains to something being symbolized, depicted, or stood for by someone or something else.

A Union

An organized association of workers formed to protect and further their rights and interests.