If the Prices of Food and Non-Food Stay Constant and Consumers

question 3

Multiple Choice

If the prices of food and non-food stay constant and consumers income doubles,what will happen to the budget line?

• A) The budget line will stay unchanged.
• B) The budget line will shift in toward the origin in a parallel fashion.
• C) The budget line will shift out from the origin in a parallel fashion.
• D) The budget line will change but we need more information to know how.

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Definitions:

Compiler Uses

Processes involving the translation of code written in a high-level programming language to a lower-level language, often machine code, so it can be executed by a computer.

Early Binding

The process of linking a function call to the actual code to be executed, done at compile time.

Abstract Class

A class that cannot be instantiated on its own and is designed to be a base class for other classes, often containing abstract methods.

Instance Instantiation

The process of creating a new object or instance of a class in programming, utilizing the class's constructor.