If Consumer Incomes Go Up and Laptops Are a Normal

question 60

Multiple Choice

If consumer incomes go up and laptops are a normal good, the effect on the demand for laptops, ceteris paribus, will be a/an:

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

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, to be enforceable.

Lease Term

The duration of a lease agreement, specifying the start and end dates of the tenancy.

Tenancy at Sufferance

A situation where a tenant continues to occupy the property after the lease term has ended, without the express permission of the landlord.

Holdover Tenant

A tenant who continues to occupy property after the expiration of their lease, without the landlord's express permission.