Normally an Increase in the Supply of a Good Will

question 315

Multiple Choice

Normally an increase in the supply of a good will cause

• A) a shift of consumer preferences in favor of that good.
• B) consumers to use more of that good and less of others.
• C) a shift of consumer preferences away from that good.
• D) consumers to use less of that good and more of others.

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Definitions:

Politics Influence

The impact that politics and governmental policies have on decision-making processes and social and economic outcomes.

Judicial Review

A process by which courts evaluate the constitutionality of legislative acts or government actions.

Marbury V. Madison

A landmark Supreme Court case in 1803 that established the principle of judicial review in the United States, asserting the court's authority to check the compatibility of laws with the Constitution.

Article III

The section of the United States Constitution that establishes the judicial branch, including the Supreme Court and lower courts.