A Normal Good Is a Good for Which Demand Increases

question 236

Multiple Choice

A normal good is a good for which demand increases as:

• A) the income of consumers increases.
• B) its own price increases.
• C) the price of close substitutes decreases.
• D) the total number of consumers increases.
• E) a reflection of changing consumer tastes.

---

Definitions:

Government Theory

This refers to the study and analysis of political systems, governance structures, and theoretical foundations that guide the operation, organization, and relationship between government and the governed.

Monroe Doctrine

A cornerstone of American foreign policy introduced in 1823, which declared that further efforts by European nations to colonize land or interfere with states in the Americas would be viewed as acts of aggression, requiring U.S. intervention.

European Nations

Countries located on the continent of Europe, known for their diverse cultures, languages, and histories.

Latin America

A region in the Americas characterized by countries that primarily speak Spanish, Portuguese, and French, known for its diverse cultures, history, and significant socioeconomic challenges.