Which of the Following Is True

question 144

Multiple Choice

Which of the following is true?

• A) If consumers expect the price of a good will rise in the future, the demand curve shifts leftward.
• B) For an inferior good, when income increases, the demand curve shifts leftward.
• C) An increase in population shifts the demand curve for most goods leftward.
• D) The demand curve for a good shifts leftward when the price of a substitute rises.

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Definitions:

Cash

Money in the form of currency that can be used immediately for transactions, including coins, currency notes, and money in bank accounts.

Gain On Equipment

Profit realized from the sale of equipment that is more than its book value.

Robotic Appliances

Machines designed for household chores that are capable of operating autonomously or semi-autonomously.

Finished Goods Inventories

Products that have completed the manufacturing process but have not yet been sold or distributed to customers.