Consider a Budget Line Drawn with Apples on the Vertical

question 13

Multiple Choice

Consider a budget line drawn with apples on the vertical axis and oranges on the horizontal axis.The consumer's income is $100,the price of apples is $5,and the price of oranges is $10.Suppose the consumer's income falls to $75.00,but the prices of apples and oranges remain unchanged.The change in income produces a:

• A)parallel shift inward of the indifference curves.
• B)new budget line which is steeper than the original one.
• C)parallel shift inward of the budget line.
• D)new budget line which is flatter than the original one.

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Definitions:

Continuous Amnesia

A form of amnesia where the individual continuously loses the ability to form new memories, leading to an inability to recall recent events.

Organic Amnesia

A form of amnesia that results from a physical injury to the brain or from exposure to a toxic substance, which affects memory formation or retrieval.

Localized Amnesia

A form of amnesia affecting the memory for information about specific events or periods in a person's life.

Localized Amnesia

A memory loss confined to specific time periods, events, or subjects while other memories remain intact.