If the Consumer's Income and All Prices Simultaneously Double,then

question 17

Multiple Choice

If the consumer's income and all prices simultaneously double,then

• A)the optimum consumption bundle will shift outward relative to the old optimum.
• B)the optimum consumption bundle will move leftward along the old budget constraint.
• C)the optimum consumption bundle will not change.
• D)the optimum consumption bundle will shift inward relative to the old optimum.

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Definitions:

Adequate Records

Comprehensive and accurate documentation of financial transactions necessary for accounting and tax compliance.

Payee

In a monetary transaction, the recipient of the payment.

Maker

In a financial context, the maker is the party that creates or issues a financial instrument, such as a check or promissory note.

Cashier

An employee who handles customer transactions and the management of money in a retail environment, often responsible for processing cash, credit, and other forms of payment.