Suppose Initially That the Price of X Is $5,the Price

question 2

Multiple Choice

Suppose initially that the price of X is $5,the price of Y is $10,and the consumer's income is $100.If Y is measured on the vertical axis,X is measured on the horizontal axis,and the price of Y increases to $20:

• A)the entire budget line will shift inward toward the origin,with its slope changing from -1/2 to -1/4.
• B)the budget line will pivot inward toward the origin along the X axis,with its slope changing from -1/2 to -1/4.
• C)the budget line will pivot inward toward the origin along the Y axis,with the slope changing from -1/2 to -1/4.
• D)the budget line will pivot inward toward the origin along the Y axis,with the slope changing from -1/4 to -1/2.

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Definitions:

Ancestors

Individuals from whom one is descended, typically beyond the immediate parents, including grandparents, great-grandparents, and so forth.

Biological Perspective

An approach in psychology that examines psychological issues by looking at their physiological, genetic, and developmental underpinnings.

Bipolar Disorder

A mental disorder characterized by extreme mood swings, including episodes of mania and depression.

Manic Phase

A period characterized by elevated mood, overactivity, inflated self-esteem, and reduced need for sleep, often seen in bipolar disorder.