All Else Held Constant,an Increase in the Price of a Good

question 172

Multiple Choice

All else held constant,an increase in the price of a good would necessarily

• A) increase social welfare.
• B) decrease producer surplus.
• C) decrease consumer surplus.
• D) increase consumer surplus.
• E) increase the supply of the good.

---

Definitions:

Defined-Contribution Plan

Retirement plan in which the employer sets up an individual account for each employee and specifies the size of the investment into that account.

Retirement Income

The financial income one receives after retiring from active employment, which can come from pensions, savings, investments, and government programs.

Social Security Benefits

Government-financed programs providing retirement, disability, survivorship, and death benefits to eligible individuals.

Exempt Amount

The portion of income or value that is not subject to tax or is excluded from calculation under certain conditions or allowances.