Assume You Are Consuming Two Goods,X and Y

question 73

Multiple Choice

Assume you are consuming two goods,X and Y.X and Y are both normal goods but they are not close complements.The price of good X increases but the price of Y remains unchanged.However,you are given enough additional income to ensure that your utility remains unchanged.What happens to your consumption of good X?

• A)it increases or decreases
• B)it increases over the long run
• C)it stays the same
• D)it decreases
• E)it increases

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Definitions:

Collecting

The process of gathering or accumulating items or the act of receiving payments owed to a business.

Classifying

The process of organizing financial information into categories for analysis, reporting, and decision making.

Summarizing

The process of presenting a concise overview or summary of specific information or data, such as the key points of a financial report.

Reporting

The process of organizing and presenting data, often financial, to provide insights into the performance of an entity.