The Number of CDs Purchased Increased by 5 Percent When

question 193

Multiple Choice

The number of CDs purchased increased by 5 percent when consumer income increased by 10 percent. Assuming other factors are held constant, CDs would be classified as

• A) inferior goods.
• B) normal goods.
• C) elastic goods.
• D) inelastic goods.

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Definitions:

Radioisotopes

Isotopes of elements that are radioactive, undergoing decay and emitting radiation in the process.

Fossil

Any past evidence of an organism that has been preserved in the Earth’s crust.

Billion Years

A period of time equal to one thousand million (1,000,000,000) years, often used to express the age of the Earth or the universe.