Advanced Higher Economics Practice Questions - Scottish Advanced Higher Economics (C820 77) Exam

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A consumer's nominal income increases while the prices of good X and good Y remain constant. How does this affect the consumer's budget line?

The budget line shifts parallel outward The budget line rotates outward around the vertical axis The budget line shifts parallel inward The budget line rotates inward around the horizontal axis

Correct Answer:

The budget line shifts parallel outward

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