question archive Which of the following statements is/are correct regarding a budget line? [a] An increase in wage rate would swivel the budget line upwards along the y-axis
Which of the following statements is/are correct regarding a budget line? [a] An increase in wage rate would swivel the budget line upwards along the y-axis
Subject:BusinessPrice: Bought3
Which of the following statements is/are correct regarding a budget line?
[a] An increase in wage rate would swivel the budget line upwards along the y-axis.
[b] An increase in non-labour income shifts the budget line upward.
[c] The absolute value of the slope of the budget line is equal to the wage rate.
