If the Budget Line Rotates Inward and Becomes Steeper,there Is

question 125

Multiple Choice

If the budget line rotates inward and becomes steeper,there is a

• A) higher opportunity cost of the good measured on the x-axis.
• B) lower opportunity cost of the good measured on the x-axis.
• C) larger budget.
• D) higher price for the good measured on the y-axis.
• E) lower price for the good measured on the x-axis.

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Definitions:

Moving Expenses

Costs incurred by an individual or household for relocating to a new residence, which can sometimes be deducted for tax purposes if they are related to starting a new job.

Qualified Education Loans

Loans taken out exclusively for paying higher education expenses that are eligible for certain tax benefits.

Deduction Limit

The maximum amount that can be deducted from taxable income for various expenses or contributions, set by tax regulations.

Tax Free

Referring to certain income, transactions, or financial products not subject to tax by the government.