The Absolute Value of the Slope of the Budget Constraint

question 35

Multiple Choice

The absolute value of the slope of the budget constraint is equal to

• A) the marginal rate of substitution between the two goods in question.
• B) the price of good on the vertical axis divided by the price of the good on the horizontal axis.
• C) the price of good on the horizontal axis divided by the price of the good on the vertical axis.
• D) quantity of the good on the vertical axis divided by the quantity of the good on the horizontal axis.

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Definitions:

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Characterized by the use of irony or mockery to mock or convey contempt.

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Describing situations that are strange or amusing because they are the opposite of what is expected.

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