An increase in money income with constant price results in

JAMB Economics 2023 45 views

An increase in money income with constant price results in

  1. Inward parallel shift in the budget line.
  2. Outward shift in the budget line. ✓
  3. Budget line remain constant
  4. Options A and C

Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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