If Income Decreases or the Price of a Complement Rises

question 124

Multiple Choice

If income decreases or the price of a complement rises

• A) the demand curve for a normal good shifts leftward.
• B) the demand curve for a normal good shifts rightward.
• C) there is an upward movement along the demand curve for the good.
• D) there is a downward movement along the demand curve for the good.

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Definitions:

Law Protection

Legislation and legal measures put in place to safeguard individuals' rights, properties, and well-being.

Transactions

The act of conducting business or commercial activities that involve the exchange of goods, services, or funds between two or more parties.

Contracts

Legal documents that outline the terms and conditions of an agreement between two or more parties, creating obligations that are enforceable by law.

Sale of Land

A legal transaction in which the ownership of property land is transferred from one party to another.