If Income Increases or the Price of a Complement Falls

question 423

Multiple Choice

If income increases or the price of a complement falls, the

• A) demand curve for a normal good shifts leftward.
• B) demand curve for a normal good shifts rightward.
• C) supply curve of a normal good shifts leftward.
• D) supply curve of a normal good shifts rightward.

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Definitions:

Endorse

To give support, approval, or recommendation publicly, or to sign the back of a financial instrument, transferring rights or ownership.

Refuse

To indicate unwillingness to accept, do, engage with, or consent to something.

Payable After Sight

A payment term indicating that the amount is due a certain number of days after the invoice or bill is presented and seen by the debtor.

Promissory Note

A financial instrument that contains a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.