A Decrease in the Price of a Good Causes

question 61

Multiple Choice

A decrease in the price of a good causes

• A)a change in the slope of the budget line.
• B)a decrease in the consumption of that good.
• C)a leftward shift of the demand curve for that good.
• D)a parallel leftward shift of the budget line.

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Definitions:

Step-by-Step Procedures

Detailed, sequential instructions designed to guide someone through the completion of a task or process.

Incubation Effect

A phenomenon in problem-solving where a solution or creative insight comes to mind after taking a break from focused work on the problem.

Computer Code

A set of instructions or a program written by humans to be executed by computers.

Field Dependence

A cognitive style characterized by a reliance on external frames of reference and the tendency to perceive objects as a whole rather than as separate parts.