Under What Circumstances Is the Demand Curve Upward-Sloping

question 40

Multiple Choice

Under what circumstances is the demand curve upward-sloping?

• A)When the good is a normal good.
• B)When the good is an inferior good and the substitution effect outweighs the income effect.
• C)When the good is an inferior good and the income effect outweighs the substitution effect.
• D)The demand curve can never be upward-sloping.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.