A Recession Occurs and Peopleʹs Incomes Decrease

question 285

Multiple Choice

A recession occurs and peopleʹs incomes decrease. Knowing that an iPad is a normal good, you predict that the demand for an iPad

• A) increases.
• B) might increase or decrease.
• C) remains unchanged.
• D) decreases.

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Definitions:

Older People

A demographic group typically defined as individuals of advanced age or the later part of life, often considered to be those 65 years old and above.

Child Care Benefits

Employer-provided benefits or subsidies designed to help employees with the costs and logistics of child care.

Family and Medical Leave Act

A U.S. federal law that requires covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.

Liability Concerns

Refers to worries or issues related to the responsibilities and potential legal obligations of individuals or organizations.