A Recession Occurs and People's Incomes Decrease

question 207

Multiple Choice

A recession occurs and people's incomes decrease. Knowing that an iPad is a normal good, you predict that the demand for an iPad

• A) increases.
• B) decreases.
• C) might increase or decrease.
• D) remains unchanged.

---

Definitions:

Pre-Signed Blank Cheques

A risky financial practice that involves signing a cheque before the amount payable is entered, leaving it vulnerable to fraud or misuse.

Limited Access

A situation or condition where access or entry is restricted or controlled, often referring to restricted data or locations.

Segregation Of Duties

A risk management and internal control principle that divides responsibilities among different people to reduce the risk of error or fraud.

Accounts Payable Clerk

A professional responsible for managing a company's outgoing bills and invoices, ensuring payments are made on time and records are kept.