If a Consumer's Income Increases,the Budget Constraint Will Pivot on the X

question 152

True/False

If a consumer's income increases,the budget constraint will pivot on the X axis so that the consumer will be able to consumer more of both goods.

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Definitions:

Consideration

In contract law, something of value that is given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Damages

Financial compensation ordered by a court to be paid to a person who has suffered loss or harm due to the unlawful act or negligence of another.

Condition Precedent

A legal term for a condition that must be fulfilled before a party is required to perform a contractual obligation.

Perform

To carry out a task or to execute an action, especially in accordance with requirements or expectations.