Refer to the Data for a Consumer Whose Income =

question 305

Multiple Choice

Refer to the data for a consumer whose income = $14. Suppose the price of new product Z is $2 rather than $1. This consumer would purchase

• A)four units of Z.
• B)three units of Z.
• C)six units of Z.
• D)more of X, Y, and Z than if the price were $1 for Z.

---

Definitions:

Federal Government

The national government of the United States, created by the Constitution, that encompasses a system of governmental institutions and practices.

Emancipation Proclamation

A presidential decree by Abraham Lincoln in 1863, declaring the freedom of all enslaved persons in Confederate-held territory during the American Civil War.

Unconstitutional

Actions or laws that are not in accordance with the constitution and therefore illegal and invalid.

Commander-in-chief

The highest-ranking officer of a nation's military forces, or the supreme authority over a country's armed forces; in the United States, it is the President.