If a Good Is Considered a Normal Good,the Demand Curve

question 45

Multiple Choice

If a good is considered a normal good,the demand curve will shift ________ when income increases because ________.

• A) right; the income and substitution effects move in the same direction.
• B) right; the income and substitution effects move in the opposite direction.
• C) left; the income and substitution effects move in the same direction.
• D) left; the income and substitution effects move in the opposite direction.

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Definitions:

Serum

Plasma minus fibrinogen and other clotting agents.

Plasma

The liquid component of blood that carries cells and proteins throughout the body, consisting mostly of water, electrolytes, and proteins.

Proteins

Large biomolecules consisting of one or more long chains of amino acid residues, crucial for the structure, function, and regulation of the body's tissues and organs.

Fibrinogen

A soluble plasma glycoprotein that is converted to fibrin in the blood clotting process, playing a key role in wound healing.