The Magnitude of the Slope of the Budget Line Is

question 3

Multiple Choice

The magnitude of the slope of the budget line is determined by

• A) the consumer's preferences for the goods.
• B) the level of income.
• C) the marginal rate of substitution.
• D) relative prices.

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Definitions:

Gaseous

Relating to or having the characteristics of a gas, a state of matter that is without definite shape or volume.

Sedimentary

Pertaining to rocks formed from sediment accumulated over time, usually in water, through the process of compaction and cementation.

Phosphorous Cycle

The biogeochemical cycle that describes the movement of phosphorus through the lithosphere, hydrosphere, and biosphere.

Chemical Cycling

The movement and exchange of organic and inorganic matter back into the production of living matter, involving processes such as the carbon and nitrogen cycles.