The Relative Price of a Good Is All of the Following

question 126

Multiple Choice

The relative price of a good is all of the following except

• A)the ratio of one price to another.
• B)an opportunity cost.
• C)the money price of the good divided by a price index.
• D)the same as the money price of a good.
• E)determined in a market.

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Definitions:

Built-In Reactions

Inherent responses present from birth that are physiologically based and do not need to be learned, such as reflexes or instinctive behaviors.

Reflexes

Automatic, involuntary responses or movements produced by the nervous system in reaction to external stimuli.

Stimuli

External or internal factors that elicit a physiological or psychological response.

Grasping Reflex

An involuntary movement or action where an infant closes their fingers tightly around an object placed in their hand.