An increase in money income with constant price results i...
An increase in money income with constant price results in
Outward shift in the budget line
Inward parallel shift in the budget line
Options A and C
Budget line remain constant
Correct answer is A
If the income of consumer changes (upward or downward), the aggregate satisfaction of the consumer would also change (upward or downward) provided the prices remain the same. An increase in consumers' income will shift the budget line outwards while a decrease in consumers' income will shift the budget line inward.
Which of the following statement is TRUE of the effect of changes in demand and supply on price? ...
The price elasticity of supply of perishable goods is_________? ...
Which of the following is an important limiting factor in the application of division of labour? ...
The most common index used for measuring development is ...
All economic systems must decide what to produce because ...
Which of the following is not appropriate in calculating national income figures? ...
The problem of planning in Nigeria is mainly in the ...
Which of the following is part of the capital account of the balance of payments? ...