If the Consumer's Income Increases While the Prices of Both

question 120

Multiple Choice

If the consumer's income increases while the prices of both goods remain unchanged,what will happen to the budget line?

• A) The budget line rotates inward from the intercept on the horizontal axis.
• B) The budget line rotates outward from the intercept on the vertical axis.
• C) The budget line shifts inward without a change in slope.
• D) The budget line shifts outward without a change in slope.

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Definitions:

Negative Terms

These are terms that negate, deny, or specify the absence of something in a statement or proposition.

Negative Terms

Terms in a logical proposition that signify the absence or denial of something.

Inherently Negative Concepts

Ideas or terms that possess a negative quality or connotation by their very nature, without needing external context to be perceived as negative.

Metaphorical Definitions

Descriptions of concepts or terms that use metaphor to convey the intended meaning by referring to something that it does not literally denote, in order to suggest a similarity.