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What does it mean when a budget constraint shifts outward?

The consumer is indifferent to goods X and Y.

None of the above.

The consumer can reach a higher indifference curve.

The outward shift could only have been caused by an increase in income.

The outward shift could only have been caused by an increase in the price of one of the goods.

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The rate at which a consumer is ABLE to substitute one good for another is determined by

the ratio of the prices of the goods.

none of the above.

the indifference map.

the marginal rate of substitution.

the consumer's income.

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Which of the following characterizations applies to a normal good?

The average consumer chooses to consume the good at a normal level.

None of the above.

The average consumer chooses to consume the good over other similar goods.

An increase in income decreases consumption of the good.

An increase in income increases consumption of the good.

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