A consumer who is below the personal budget line:

CA Foundation · Business Economics · MTP · September 2024
A consumer who is below the personal budget line:
(A) A. is not spending all personal income
(B) B. is spending all personal income
(C) C. may be spending all personal income
(D) D. is in equilibrium

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. is not spending all personal income

Topics: Theory of Demand and Supply

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