If a Consumer's Budget Increases,the Budget Line

question 245

Multiple Choice

If a consumer's budget increases,the budget line

• A) rotates outward and its slope changes.
• B) rotates inward and its slope changes.
• C) shifts outward and its slope does not change.
• D) shifts inward and its slope does not change.
• E) does not change.

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Definitions:

Moving Average

A method used to smooth out short-term fluctuations and highlight longer-term trends or cycles in data, by averaging data points over specific periods.

Regression Trend Line

A statistical technique that attempts to determine the relationship between two or more variables by fitting a linear or non-linear line that best approximates the data.

Annual Energy Consumption

The total amount of energy used by a system, device, or facility within a year.

Seasonal Indexes

Quantitative measures that are utilized to adjust data for seasonal variations and effects, helping in analyzing and forecasting trends.