An Increase in Income Will

question 79

Multiple Choice

An increase in income will

• A) shift the budget constraint to the right.
• B) make the budget constraint steeper.
• C) make the budget constraint flatter.
• D) make the budget constraint more bowed.

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Definitions:

Paternalism

A behavior by an authority that limits someone's freedom or responsibilities for their own good, often without their consent.

Ethical Principle

Fundamental guidelines that inform ethical decision-making and behavior, emphasizing values like honesty, fairness, and respect.

Self-determination

The process by which a person controls their own life, making choices and decisions based on their values, preferences, and aspirations.

Dilemma

A situation in which a difficult choice must be made between two or more alternatives, often involving equally undesirable outcomes.