Moving Down Along a Given Budget Line,real Income

question 83

Multiple Choice

Moving down along a given budget line,real income

• A)decreases but prices remain constant.
• B)and prices are constant.
• C)decreases and prices decrease.
• D)increases but prices remain constant.
• E)remains constant but prices decrease.

---

Definitions:

Marked Down

Refers to products that have their prices reduced, usually to encourage quick sales or clear out inventory.

Demand Increase

A rise in the quantity of a product or service that consumers are willing and able to purchase at a given price over a certain period of time.

Maintained Markup

The difference between the retail price and the cost of an item to the retailer, maintained as a percentage of the retail price.

Retail Picture Frame Store

A retail business specializing in the sale of frames for pictures, artwork, and documents, catering to both consumers and professionals.