Which of the Following Statements Is True

question 50

Multiple Choice

Which of the following statements is true?

• A) A budget constraint remains the same for a consumer at all levels of income.
• B) A budget constraint quantifies the trade-offs that economic agents face while making decisions.
• C) A budget constraint is a function of the income of the consumer and not of the prices of the goods and services available for consumption.
• D) A budget constraint is based on the minimum amount of money that an economic agent can spend on goods and services.