The Demand Curve for a Typical Good Has

question 236

Multiple Choice

The demand curve for a typical good has

• A)a negative slope because some consumers switch to other goods as the price of the good rises.
• B)a negative slope because the supply of the good rises as demand rises.
• C)a negative slope because the good has less "snob appeal" as its price falls.
• D)an inverse slope because as the price goes up, the good has more profitability.
• E)a positive slope because price is a clear indicator of need.

---

Definitions:

Advance Notice

Notification given in advance to inform someone about an upcoming event or action they need to prepare for or be aware of.

Double-Cycle Billing

A method some credit card companies used to calculate finance charges using the average daily balance of the current and previous billing cycles, often leading to higher charges for the cardholder.

Fair Credit Reporting Act

a federal law that regulates the collection, dissemination, and use of consumer credit information, ensuring accuracy, fairness, and privacy.

Metro Bank

A financial institution that provides banking services, which may include savings, loans, and investment products.