Asked by Jusseth Hernandez on Jun 09, 2024
Verified
The lower the consumer's income,the higher his or her budget line.
Consumer's Income
The sum of money a consumer can spend on products and services.
Budget Line
A visual depiction of every potential combination of two products that can be bought within a specific budget at fixed prices.
- Acquire knowledge on how consumption is related to income after taxes.
Verified Answer
PJ
Perry JohnsonJun 14, 2024
Final Answer :
False
Explanation :
The opposite is true. The lower the consumer's income, the lower his or her budget line.
Learning Objectives
- Acquire knowledge on how consumption is related to income after taxes.