The Slope of the Budget Constraint Is All of the Following

question 37

Multiple Choice

The slope of the budget constraint is all of the following except

• A)the relative price of two goods.
• B)the rate at which a consumer can afford to trade one good for another.
• C)the marginal rate of substitution.
• D)constant.

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Definitions:

Population

In statistics, the complete set of items or individuals considered for a survey or study.

Population Standard Deviation

A measure of the dispersion of all values in the entire population from the mean of the population.

Confidence Interval

A range of values that is believed to contain an unknown population parameter, calculated from a given set of sample data.

Sample Variance

A statistical measure of the dispersion of observations in a sample dataset around the sample mean.