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Author Question: Which of these actions will occur to the budget constraint when an individual's income increases? ... (Read 315 times)

vicotolentino

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on: Jul 1, 2018
Which of these actions will occur to the budget constraint when an individual's income increases?
 
  a. shifts outward
  b. shifts backward
  c. rotates clockwise
   d. cannot be determined from the information given

Question 2

The individual's budget constraint is _____.
 
  a. the amount of money she has in the bank
  b. determined by dividing the individuals income by the price of the goods she wants to buy
  c. the maximum amount one good she can consume given her consumption of other goods
   d. a line depicting all the possible budgets an individual could have at various occupations


CAPTAINAMERICA

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


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