If Food Is Measured on the Horizontal Axis of Budget

question 82

Multiple Choice

If food is measured on the horizontal axis of budget line diagram,and clothing is measured on the vertical axis,an increase in

• A)the price of clothing will make the budget line steeper
• B)income will make the budget line steeper
• C)income will make the budget line flatter
• D)the price of food will make the budget line steeper
• E)the price of food will make the budget line flatter

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Definitions:

Depreciation

This refers to the accounting process of allocating the cost of tangible assets over their useful lives, representing how much of an asset's value has been used up over time.

Office Equipment

Tangible items that are used in an office setting for operational purposes, such as computers, desks, and printers.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, usually comprising the balance sheet, income statement, and cash flow statement.

Profit Margin

Profit Margin is a financial metric that measures the percentage of revenue remaining after all expenses have been deducted from sales.