If the Demand for a Product Increases as the Result

question 38

Multiple Choice

If the demand for a product increases as the result of a decline in income, it can be concluded that the

• A) product is an inferior good.
• B) demand for the product is inelastic.
• C) price elasticity of demand for the product equals unity.
• D) demand for the product is elastic.

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Definitions:

Bradwell v. Illinois

An 1873 Supreme Court case that upheld a decision denying Myra Bradwell the right to practice law, based on her gender.

Property Rights

Legal rights and interests an individual has in tangible or intangible items, encompassing both ownership and use.

Fourteenth Amendment

is an amendment to the U.S. Constitution that grants citizenship to all persons born or naturalized in the United States, which included former slaves, and provides all citizens with equal protection under the laws.

Scalawag

A term used during the Reconstruction era in the United States to describe Southern whites who supported Reconstruction and the Republican Party, often used derogatorily.