Which of the Following Must Be True If Good X

question 395

Multiple Choice

Which of the following must be true if good X is a normal good and income increases?

• A) The demand for X will increase, and thus the price and quantity sold and bought will decrease.
• B) The demand for X will decrease, and thus the price and quantity sold and bought will decrease.
• C) The demand for X will increase, and thus the price and quantity sold and bought will increase.
• D) The demand for X will decrease, and thus the price and quantity sold and bought will increase.
• E) The demand for X will increase, and thus the price and quantity sold and bought will remain the same.

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Definitions:

Economic Resources

Assets, natural resources, human resources, and capital that can be used for producing goods and services.

Uniform Crime Report

An official measure of crime in the United States, produced by the FBI’s official tabulation of every crime reported by more than 18,000 law enforcement agencies.

Murder

The intentional and unlawful killing of another person.

Societal Goals

Collective aims or objectives pursued by a society, which can include economic prosperity, social welfare, environmental sustainability, and cultural enrichment.