If a household's money income is doubled:

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section21.1: The Budget Constraint: What The Consumer Can Afford
Problem 1QQ
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If a household's money income is doubled:
Select one:
the budget constraint will swivel at the Y-intercept
O a.
b. the budget constraint will shift in and parallel to the old one
O c. the budget constraint will shift out parallel to the old one
O d. the budget constraint is not affected
Transcribed Image Text:If a household's money income is doubled: Select one: the budget constraint will swivel at the Y-intercept O a. b. the budget constraint will shift in and parallel to the old one O c. the budget constraint will shift out parallel to the old one O d. the budget constraint is not affected
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