Suppose That a Consumer Purchases Just Two Goods, X and Y

question 395

Multiple Choice

Suppose that a consumer purchases just two goods, X and Y. The slope of the budget line would indicate the

• A) opportunity cost of good Y in terms of good X given up for each unit of Y.
• B) opportunity cost of good X in terms of good Y given up for each unit of X.
• C) maximum quantity of good Y that the consumer could buy with a given budget.
• D) maximum quantity of good X that the consumer could buy with a given budget.

---

Definitions:

Jury Selection

The process of choosing the members of a jury from a pool of candidates, using criteria to include or exclude potential jurors to ensure impartiality and fairness.

Witness Preparation

The process of preparing witnesses to provide testimony in a legal proceeding, ensuring they present evidence clearly and confidently, and are ready for cross-examination.

Psychological Perspectives

Various approaches in psychology aimed at understanding human behavior and thought processes from different viewpoints such as biological, cognitive, and socio-cultural.

Structuralism

An approach in psychology that analyzes the basic elements of thoughts and sensations to understand the complex structure of the mind.