Match List-I with List-II
|
List-I |
List-II |
|
(A) Decrease in consumer's income |
(I) Budget line becomes steeper |
|
(B) Increase in price of Good X |
(II) Parallel and leftward shift in the budget line |
|
(C) Equal reduction in price of both goods X and Y |
(III) Budget line becomes flatter |
|
(D) Increase in price of Good Y |
(IV) No change in the slope of the budget line |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A)-(II), (B)-(I), (C)-(IV), (D)-(III)
|
List-I |
List-II |
|
(A) Decrease in consumer's income |
(II) Parallel and leftward shift in the budget line |
|
(B) Increase in price of Good X |
(I) Budget line becomes steeper |
|
(C) Equal reduction in price of both goods X and Y |
(IV) No change in the slope of the budget line |
|
(D) Increase in price of Good Y |
(III) Budget line becomes flatter |