When the Price of a Product Falls, the Purchasing Power

question 24

Multiple Choice

When the price of a product falls, the purchasing power of our money income rises and thus permits us to purchase more of the product.This statement describes:

• A)an inferior good.
• B)the rationing function of prices.
• C)the substitution effect.
• D)the income effect.

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Definitions:

Sleepwalking

A sleep disorder that causes people to get up and walk around during deep sleep, often without memory of the activity.

Disturbed Sleep Pattern

Disturbed sleep pattern is a condition where an individual experiences disruptions in the quality, timing, and amount of sleep, leading to distress or impairment in important areas of functioning.

Dyssomnia

Categories of sleep disorders involving difficulties in getting to sleep, staying asleep, or experiencing restorative sleep.

Ruptured Appendix

A medical emergency where the appendix, a small organ attached to the large intestine, becomes inflamed and bursts, leading to the spread of infection within the abdominal cavity.