If the Graph Shown Represents Donna's Budget Constraint,and the Price

question 46

Multiple Choice

If the graph shown represents Donna's budget constraint,and the price of earrings were to decrease,the slope of Donna's budget constraint would become:

• A) steeper, reflecting the fact that hairbands are now relatively less expensive.
• B) flatter, reflecting the fact that hairbands are now relatively more expensive.
• C) steeper, reflecting the fact that earrings are now relatively less expensive.
• D) flatter, reflecting the fact that earrings are now relatively more expensive.

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Definitions:

Stratification

The arrangement or classification of something into different groups, levels, or ranks, often used to describe the hierarchical layering of people in a society based on wealth, race, education, etc.

Bourgeoisie

The owners of the means of production.

Petite Bourgeoisie

A social class positioned between the lower middle class and the working class, often including small business owners and self-employed individuals.

Olin Wright

A sociologist known for his work on social class, inequality, and the possibilities for social change in capitalist societies.