Suppose the Price of Is $20 and the Price of Is

question 7

Multiple Choice

Suppose the price of is $20 and the price of is $10 and that good is plotted on the horizontal axis. If the price of doubles and the price of triples, leaving the consumer's income unchanged, the budget line:

• A)will become steeper.
• B)will become flatter.
• C)will shift in toward the origin.
• D)will shift out from the origin.

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Definitions:

Financial Aid

Monetary support given to individuals or entities in need, often for education, healthcare, or in times of disaster.

Republicanism Ideology

A political ideology valuing the maintenance of a republic as a form of government, emphasizing liberty, civic virtue, and opposition to corruption and aristocracy.

Enlightenment Ideas

Philosophical and intellectual movements of the 17th and 18th centuries emphasizing reason, individualism, and skepticism towards traditional authorities, influencing many aspects of Western society including politics, science, and culture.

Roman Ideas

The concepts, philosophies, legal principles, and innovations developed in ancient Rome that have had a lasting impact on Western civilization, including the law, government, architecture, and engineering.