Suppose That the Prices of Good X and Good Y

question 51

Multiple Choice

Suppose that the prices of good x and good y both double and income triples.On a graph where the budget line is drawn with x on the horizontal axis and y on the vertical axis,

• A)the budget line becomes steeper and shifts inward.
• B)the budget line becomes flatter and shifts outward.
• C)the budget line becomes flatter and shifts inward.
• D)the new budget line is parallel to the old budget line and lies below it.
• E)None of the above.

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Definitions:

Arbitration Costs

The expenses associated with resolving disputes through arbitration, including fees for arbitrators, administration, and sometimes legal representation.

Federal Rules

Regulations and procedures established by federal law that govern legal processes in U.S. federal courts.

Arbitration Agreement

A contract in which parties agree to resolve disputes through arbitration rather than litigation in courts.

Brazilian Civil Code

The primary source of civil law in Brazil that addresses matters of personal rights and of civil and commercial obligations.