REFER TO THE ABOVE GRAPH

52.Refer to the above graph. The shift of the budget line from CD to AB is consistent with:→ a decrease in money income.an increase in money income.an increase in the price of Good 1 and no change in the price of Good 2.a decrease in the price of Good 2 and no change in the price of Good 1. AACSB: AnalyticBlooms: Understand

Test Bank for Essentials of Economics 3rd Edition by Brue

Difficulty: 2 MediumLearning Objective: 01-04 List the categories of scarce resources and delineate the nature of the economizing problem.

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Multiple Choice Question Topic: Individual's economic problem