ht. on the horizontal axis, but leave it anchored at "10" on th line is solely the result of a change in:

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
ChapterP2: Microeconomics Fundamentals
Section: Chapter Questions
Problem 12KC
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QUESTION 24
Given a certain a budget line, an increase in money income will:
have no effect on the budget line.
shift the budget line to the right.
shift the budget line to the left.
shift the budget line outward on the horizontal axis, but leave it anchored at "10" on the vertical axis.
QUESTION 25
A change in the slope of a budget line is solely the result of a change in:
money income.
the marginal rate of substitution.
the price of one or both goods.
consumer preferences.
Transcribed Image Text:QUESTION 24 Given a certain a budget line, an increase in money income will: have no effect on the budget line. shift the budget line to the right. shift the budget line to the left. shift the budget line outward on the horizontal axis, but leave it anchored at "10" on the vertical axis. QUESTION 25 A change in the slope of a budget line is solely the result of a change in: money income. the marginal rate of substitution. the price of one or both goods. consumer preferences.
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