Use the Information Below to Answer the Following Questions

question 68

Multiple Choice

Use the information below to answer the following questions.
Fact 9.3.2 Boom Time for "Gently Used" Clothes
Most retailers are blaming the economy for their poor sales, but one store chain that sells used name-brand children's clothes, toys, and furniture is boldly declaring that an economic downturn can actually be a boon for its business. Last year, the company took in $20 million in sales, up 5% from the previous year. Sales are already up 5% this year.
Source: CNN, April 17, 2008
-Refer to Fact 9.3.2. If the price of used clothing falls and income remains the same, the substitution effect ________ the quantity of used clothing bought and the income effect ________ the quantity of used clothing bought.

• A)increases; decreases
• B)increases; increases
• C)decreases; increases
• D)decreases; decreases
• E)does not change; increases

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Definitions:

Suicide Rates

The statistical measures representing the number of suicide deaths in a specific population and time period.

Socioeconomic Families

Families classified according to their social and economic status, often influencing their access to resources, lifestyle, and opportunities.

Middle-Aged Women

Females typically classified in the age group of approximately 40 to 65 years, often experiencing significant life transitions and developmental stages.

Alienation

A condition of estrangement or detachment from one's environment or oneself, often discussed in social, psychological, and philosophical contexts.