Michael Can Buy Either Pizzas or Submarine Sandwiches

question 120

Multiple Choice

Michael can buy either pizzas or submarine sandwiches. If the prices of pizzas and submarine sandwiches double and so does Michael's money income, we can conclude that Michael's budget constraint will

• A) shift in but remain parallel to the old one.
• B) shift out but remain parallel to the old one.
• C) swivel in so that the slope of the budget constraint is doubled.
• D) remain unchanged.

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Definitions:

Breached the Peace

This term refers to actions or behaviors that disturb public order or tranquility, often used in legal contexts regarding disturbances of peace.

Financing Statement

A document filed by a creditor to indicate a security interest in the personal property of a debtor, used in securing loans.

Financing Statement

A form filed to give public notice of a secured party's interest in the debtor's collateral, facilitating the priority of claims in case of default.

Secured Interests

Interests in personal property or fixtures that secure payment or performance of an obligation, often seen in lending and financing agreements.