An Increase in the Price of the Good Measured on the Vertical

question 76

Multiple Choice

An increase in the price of the good measured on the vertical axis of a budget line diagram will

• A)cause a parallel outward shift of the budget line
• B)leave the budget line unchanged
• C)cause a parallel inward shift of the budget line
• D)make the budget line flatter
• E)make the budget line steeper

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Definitions:

UAW

United Auto Workers, a labor union representing workers in the United States, Canada, and Puerto Rico, primarily in the automotive industry.

NAACP

The National Association for the Advancement of Colored People, a civil rights organization founded in 1909 to fight prejudice, lynching, and Jim Crow segregation, and to work for the betterment of people of color.

Henry Ford

An American industrialist and founder of the Ford Motor Company, known for revolutionizing the automobile industry with assembly line production.

UNESCO

The United Nations Educational, Scientific and Cultural Organization, a specialized agency aimed at promoting world peace and security through international cooperation in education, the arts, sciences, and culture.