Which of the Following Is True

question 269

Multiple Choice

Which of the following is true?

• A) For an inferior good, when income increases, the demand curve shifts leftward.
• B) If the price of a substitute rises, the demand curve shifts leftward.
• C) If people expect the price of a good will rise in the future, the demand curve shifts leftward.
• D) An increase in population shifts the demand curve leftward.
• E) An increase in the cost of producing a good shifts the demand curve leftward.

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Definitions:

Reference Groups

Social groups that influence an individual's behavior, decisions, and perceptions, often used as a point of comparison.

Value-expressive

Describes products or services that reflect the consumer's self-image or desired image to others, often utilized in advertising strategies.

Unitarian

pertains to a belief system or individual advocating for a unified entity or approach, especially in religious or philosophical contexts.

Informational

pertains to the provision or exchange of knowledge or data through various means and formats.