As Macroeconomic Conditions Improve and Consumers' Incomes and Wealth Increase,their

question 36

Multiple Choice

As macroeconomic conditions improve and consumers' incomes and wealth increase,their demand for many products tends to become ________ price inelastic.As such,the ability of firms to mark up price above cost will ________.

• A)more; increase
• B)more; decrease
• C)less; increase
• D)less; decrease

---

Definitions:

Lophotrochozoa

A major group within the animal kingdom, which includes organisms that have either a lophophore for feeding or a trochophore larval stage in their development.

Deuterostomes

Animals characterized by the development of the anus from the first opening in the embryo, with humans and starfish as examples.

Metazoan

A multicellular organism of the kingdom Animalia, characterized by complex structures and systems that perform specific functions.

Animal

refers to a multicellular, eukaryotic organism that is typically mobile, responsive to its environment, and sustains itself by consuming organic matter.