Refer to the Diagram

question 53

Multiple Choice

Refer to the diagram. Suppose the budget line shifts so that the consumer's equilibrium changes from point A to point B. This means that the

• A) price of Y has increased.
• B) price of Y has decreased.
• C) price of X has increased.
• D) consumer's money income has increased.

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Definitions:

Apollo Program

NASA's project aimed at landing humans on the Moon and bringing them safely back to Earth.

Federal Budget

The estimated revenue and expenditure for a forthcoming fiscal year by the federal government.

Natural Environment

The physical, chemical, and biological factors and processes that occur naturally, including land, water, atmosphere, plants, and animals.

Aerospace Industry

A sector that deals with the development and manufacturing of flight vehicles, including aircraft, spacecraft, satellites, and their components.