Which of the Following Statements Is True

question 64

Multiple Choice

Which of the following statements is true ?

• A) If the income elasticity of demand is less than zero, the good is an inferior good.
• B) Only if the demand curve is vertical will sellers raise the price by the full amount of a tax.
• C) Two goods are substitutes if the cross-elasticity of demand coefficient is positive.
• D) A price elasticity of supply coefficient equal to 1.5 means the product exhibits an elastic supply and a 10 percent increase in the price will increase the quantity supplied by 15 percent.
• E) All of the above.

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Definitions:

Nature and Nurture

Refers to the debate concerning the relative importance of an individual's innate qualities versus personal experiences in determining or causing individual differences in physical and behavioral traits.

Behavior and Mental Processes

Aspects of psychology that pertain to observable actions (behavior) and internal experiences such as thoughts and emotions (mental processes).

Stability and Change

The concept of how certain aspects of physical, cognitive, social, and emotional development remain stable over time, whereas others change.

Developmental Psychologists

Professionals who study the psychological growth and development that occurs throughout a lifespan.