Suppose the Consumer's Income Increases While the Prices of the Goods

question 181

Multiple Choice

Suppose the consumer's income increases while the prices of the goods remain constant.Then the

• A)budget constraint shifts inward parallel to the original budget constraint.
• B)budget constraint shifts outward parallel to the original budget constraint.
• C)indifference curves shift outward away from the origin.
• D)indifference curves become flatter.

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Definitions:

Duplex Mind

The concept that the human mind operates through two systems: one that is fast, automatic, and emotional, and another that is slow, deliberate, and logical.

Nature Versus Culture

A debate focusing on the relative contributions of genetic inheritance (nature) and cultural factors (culture) to human development and behavior.

Connections

Relationships or associations between people, places, or things, often implying a network or linkage of some kind.

People

Human beings collectively considered as members of a community or society.