A Normal Good Is a Good for Which Demand

question 352

Multiple Choice

A normal good is a good for which demand

• A) decreases when income increases.
• B) increases when income increases.
• C) decreases when population increases.
• D) increases when population increases.

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Definitions:

Negotiability

This term refers to the characteristic of a financial instrument that enables it to be transferred or assigned from one party to another with ease and legal effect.

I.O.U.

An informal document acknowledging a debt owed.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name written on the document.

Studies In Hysteria

A seminal work by Sigmund Freud and Josef Breuer that laid the groundwork for psychoanalysis by examining hysteria and its treatment through talking therapy.