The Graph Sbove Illustrates the Demand for Peanuts

question 56

Multiple Choice

The graph sbove illustrates the demand for peanuts.Peanuts are a normal good because the

• A)demand for peanuts increases when the price of one of its substitutes rises.
• B)peanuts have both substitutes and complements.
• C)demand curve for peanuts slopes downward.
• D)demand for peanuts increases when income increases.
• E)demand curve shows that if the price of peanuts rises,there is a movement along the demand curve to a lower quantity demanded.

---

Definitions:

Occupational Licensing

The requirement to obtain certification to demonstrate competency in a profession before being allowed to legally perform certain jobs.

Unnecessary Requirements

Stipulations or conditions imposed in a context (like a job or product use) that are not essential for its primary function or purpose.

Excessive Requirements

Unreasonably high or unnecessary conditions or stipulations imposed, often making processes or achievements difficult to attain.

Unions

Organizations formed by workers from related sectors that work towards securing better pay, benefits, and working conditions for their members.