Assume That There Are Two Goods,x and Y

question 207

Multiple Choice

Assume that there are two goods,x and y.The quantity of good x is measured on the x-axis and the quantity of good y is measured on the y-axis.If the price of good y rises,then the

• A) y-axis intercept of the budget line increases.
• B) y-axis intercept of the budget line increases and the x-axis intercept of the budget line decreases.
• C) y-axis intercept of the budget line decreases and the x-axis intercept does not change.
• D) slope of the budget line changes.
• E) Both answers C and D are correct.

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Definitions:

Item

An individual article or unit, especially one that is part of a list, collection, or set.

Numeric Filing System

An organizational method that arranges files or records in order of assigned numbers.

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