Assume That a Consumer Purchases Only Two Products and There

question 79

Multiple Choice

Assume that a consumer purchases only two products and there is a decrease in the consumer's income. The prices of the two products stay constant. The decrease in income will result in

• A)a shift of the budget line inward to the left.
• B)a shift of the budget line outward to the right.
• C)a decrease in the slope of the budget line.
• D)an increase in the slope of the budget line.

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Definitions:

Salmon

A species of fish that is often used in research related to homing behavior, as they return to their birthplace to spawn.

Instinct

The inherent inclination of a living organism towards a particular complex behavior, driven by the need to survive and reproduce.

Incentives

Things that attract or lure people into action.

Biological Needs

Fundamental requirements that organisms must fulfill to maintain their bodily functions and ensure survival, such as the need for food, water, and shelter.