Which of the Following Statements Is Correct

question 261

Multiple Choice

Which of the following statements is correct?

• A) Consumers have the ability to buy everything they desire.
• B) A consumer's budget line shows the limits to what a consumer can buy.
• C) A consumer's budget line shows the goods with the highest marginal utilities.
• D) Rich consumers are unaffected by prices.
• E) A budget line changes only if the person's budget changes.

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Definitions:

Experimental Finding

The results or conclusions derived from systematically conducted experiments, often used to validate or refute hypotheses in scientific research.

Automatic Processes

Tasks or cognitive processes that occur with little to no conscious thought or effort, such as walking or riding a bicycle.

Intention

A mental state that involves a commitment or plan to carry out a specific action.

Conscious Awareness

The mental state of being fully present and aware of one's thoughts, feelings, and perceptions in the moment.