If the Price of Good X Increases,what Will Happen to the Budget

question 109

Multiple Choice

If the price of good X increases,what will happen to the budget line?

• A) It will shift outward.
• B) It will become steeper.
• C) It will become flatter.
• D) It will shift inward.

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Definitions:

Initial Value Method

An accounting approach where investments are recorded at their cost at the time of acquisition without adjustment for market changes.

Noncontrolling Interest

The portion of equity in a subsidiary not owned by the parent company, reflecting the equity interest of minority shareholders.

Consolidated Income Statement

A consolidated income statement is a financial statement that aggregates the financial performance of a company and its subsidiaries.