If Consumer Incomes Go Up and Cars Are a Normal

question 377

Multiple Choice

If consumer incomes go up and cars are a normal good, the effect on the demand for cars ceteris paribus, will be a(n) :

• A) upward movement along the demand curve for cars.
• B) downward movement along the demand curve for cars.
• C) rightward shift in the demand curve for cars.
• D) leftward shift in the demand curve for cars.

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Definitions:

Cash Overage

A situation where the amount of cash on hand is greater than the expected amount, often due to errors in cash management or recording.

Internal Control System

A process implemented by management and other personnel to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with laws and regulations.

Purpose

The reason for which something is done or created, or for which something exists.

Voucher System

An accounting system that involves preparing and approving vouchers before transactions are recorded and payments made, to ensure financial controls.