A Good Is a Normal Good If the Consumer Buys

question 146

Multiple Choice

A good is a normal good if the consumer buys less of it when

• A)his income falls.
• B)the price of the good rises.
• C)the price of a substitute good falls.
• D)his income rises.

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Definitions:

Days

Units of time equivalent to 24 hours, representing the approximate period it takes for the Earth to complete one rotation on its axis.

Sleep

A naturally occurring condition of the mind and body where consciousness is altered, sensory activities are largely reduced, and almost all voluntary muscles are inhibited.

Circadian Rhythms

Biological processes that display an endogenous, entrainable oscillation of about 24 hours, affecting various physiological processes in living organisms.

Melatonin

A hormone produced by the pineal gland that regulates sleep and wakefulness.