If an Increase in Income Results in Higher Prices for Yachts

question 36

Multiple Choice

If an increase in income results in higher prices for yachts, we can conclude

• A)that yachts are inferior goods.
• B)that there was a decrease in the supply of yachts.
• C)that there was an increase in the supply of yachts.
• D)that yachts are normal goods.
• E)there's no relationship between income and the demand for yachts.

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Definitions:

Rational Emotive Behavior Therapy

A comprehensive, active-directive, philosophically and empirically based psychotherapy which focuses on resolving emotional and behavioral problems and disturbances to enable individuals to lead happier and more fulfilling lives.

Unnecessary Emotional Problems

Difficulties or disturbances in emotional functioning that could be avoided or are created without significant cause.

Unstated Belief

An implicit conviction or assumption that influences one's attitudes and behaviors without being directly expressed or acknowledged.