Assume the Price of Product Y (The Quantity of Which

question 152

Multiple Choice

Assume the price of product Y (the quantity of which is plotted on the vertical axis) is initially $15 and the price of X (the quantity of which is plotted on the horizontal axis) is initially $3. Assume money income is initially $60. If the prices of Y and X now increase to $30 and $6, respectively, and money income increases to $120, then the budget line will

• A)shift rightward and become steeper.
• B)shift rightward and become flatter.
• C)shift rightward, but its slope will not change.
• D)be unchanged.

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Definitions:

Energy

The capacity to do work, manifested in physical (like mechanical, thermal) or chemical forms and convertible from one form to another.

Optimism

A general tendency to expect good outcomes.

Schizophrenia

A serious mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Irrational Thought

A type of thinking that is not based on reason or clear thinking, often leading to unrealistic expectations and negative outcomes.