If the Price of a Good Increases, All Else the Same

question 283

Multiple Choice

If the price of a good increases, all else the same, then the consumer's total utility will

• A) increase.
• B) decrease.
• C) remain the same as consumption shifts to cheaper goods.
• D) decrease if there are no substitutes for the good and remain the same if there are substitutes for the good.

---

Definitions:

Triangulation

Using different research methods to answer the same question, in order to be more certain of the answer.

Statistical Significance

A measure that indicates how likely it is that a result obtained from data analysis is not due to chance.

Test-Retest Reliability

A measure of consistency where a test is administered to the same group of individuals at two different points in time, and the scores are correlated to assess the test's reliability over time.

Informant Report

A method of assessment where information about a subject is reported by someone else, often used in psychological evaluations.