Identify the Statement That Is False

question 12

Multiple Choice

Identify the statement that is false.

• A) An increase in the amount of income changes the intercepts of the budget constraint but not the slope.
• B) An increase in the price of good x changes both the x -intercept and the slope of the budget constraint.
• C) An increase in the price of good x and an equal percentage increase in the price of good y changes the x -intercept, the y -intercept, and the slope of the budget constraint.
• D) An increase in the price of good x and an increase in the price of good
• y may or may not change the slope of the budget constraint.

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Definitions:

Colonial Assemblies

Elected bodies in the American colonies that represented colonists and had the authority to legislate and make decisions on local matters.

Acts of Parliament

Legislation passed by the Parliament, which forms the statutory laws of the country.

Stamp Act

A 1765 British law imposed on the American colonies requiring them to pay a tax on printed materials, which led to widespread protest.

Revenue

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations.