If Food Is Measured on the Horizontal Axis of a Budget

question 110

Multiple Choice

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

• A)the price of food will decrease the slope (e.g. ,-9 instead of -6)of the budget line
• B)the price of food will increase the slope of the budget line
• C)income will decrease the slope of the budget line
• D)income will increase the slope of the budget line
• E)the price of clothing will decrease the slope of the budget line

---

Definitions:

Adequate Compensation

Fair and reasonable recompense, often used in the context of eminent domain or when damages are awarded in a legal dispute.

Consequential Damages

Refers to indirect or secondary financial losses suffered as a result of a breach of contract, beyond the immediate scope of the contractual obligations.

Cover

In the context of contracts, the term refers to a buyer's procurement of goods as a substitute for those promised but not delivered by the seller.

Wrongful Repudiation

The unjustified refusal to fulfill the terms of a contract, thereby breaching the agreement.