Suppose Z Is a Normal Good

question 177

Multiple Choice

Suppose Z is a normal good.The equilibrium price and equilibrium quantity of Z in the year 2013 was $25 and 60 units,respectively.In 2017,the equilibrium price of Z had decreased to $15 and the equilibrium quantity had also decreased to 50 units.Other things remaining the same,which of the following could explain this change?

• A) A leftward shift of the supply curve of Z
• B) A rightward shift of the supply curve of Z
• C) A leftward shift of the demand curve for Z
• D) A rightward shift of the demand curve for Z

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Definitions:

Unitary Ability

The concept that intellectual capabilities can be represented as a single general ability or factor, often referred to as "g" in intelligence research.

Specialized Abilities

Unique skills or competencies that are highly developed or adapted for specific tasks or environments.

Unitary Phenomenon

A term that suggests a singular or unified event, characteristic, or concept, typically used in science or philosophy to describe something that cannot be divided.

Psychometric Approach

A method in psychology that focuses on the design, administration, and interpretation of quantitative tests for the measurement of psychological variables such as intelligence, personality, and attitudes.