Which of the Following Is True

question 17

Multiple Choice

Which of the following is true?

• A) For an inferior good, when income increases, the demand curve shifts leftward.
• B) The demand curve for a good shifts leftward when the price of a substitute rises.
• C) If consumers 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 for most goods leftward.

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Definitions:

Agreement Effective

The point in time when an agreement becomes legally binding and enforceable.

Negotiated

The process of discussing and arriving at a mutual agreement between parties, each with their own interests and objectives.

Elect to Sue

The act of choosing or deciding to initiate a legal proceeding against an individual or entity.

Identity Discovered

The act of revealing or determining the true character or personality of an individual or entity.