Suppose a Consumer Has an Income $\mathrm { I } = \$ 50$

question 57

Multiple Choice

Suppose a consumer has an income $\mathrm { I } = \$ 50$ which he/she spends on pizza and tacos per month. The price of pizza is $\$ 10$ and the price of tacos is $\$ 5$ . Letting $Z =$ the quantity of pizza per months and $T =$ the number of tacos per month, the equation for the budget line is best represented by

• A) \(10 = 10 Z + 5 T\)
• B) \(1000 = 20 Z + 10 T\)
• C) \(50 = 10 Z + 5 T\)
• D) \(1000 = A + B\)

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Definitions:

Rationalism

A philosophical belief that reason is the chief source of knowledge, emphasizing logic and factual analysis.

Great Awakening

A series of religious revivals in the British American colonies during the 18th century, which emphasized personal faith, emotional experience, and the need for revival of religious devotion.

New Lights

A term from the First Great Awakening referring to those who experienced a conversion experience and supported new religious practices, distinguishing them from "Old Lights" who were skeptical of the new revivalist methods.

National Unity

The sense of solidarity and cohesion among the citizens of a nation, fostering a sense of shared identity and purpose.