If a Price Decrease Results in Your Expenditure on a Good

question 196

Multiple Choice

If a price decrease results in your expenditure on a good decreasing, your demand must be

• A) inelastic.
• B) unit.
• C) elastic.
• D) linear.

---

Definitions:

Nomothetic

Nomothetic refers to an approach in psychological and social science research that focuses on identifying general laws that apply across individuals, as opposed to studying the unique aspects of individuals.

Idiographic

An approach focusing on the unique aspects of individuals, emphasizing personal experiences and subjective perceptions.

Single-Parent Families

Describes families headed by one parent, who is responsible for raising one or more children.

Two-Parent Families

A family structure that consists of two adults who are in a committed relationship and are raising their children together.