If an Increase in Income Results in a Rightward Parallel

question 42

Multiple Choice

If an increase in income results in a rightward parallel shift of the demand curve,then at any given price,the price elasticity of demand will have

• A) increased in absolute terms.
• B) decreased in absolute terms.
• C) remained unchanged.
• D) increased, decreased or stayed the same. It cannot be determined.

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Definitions:

Amino Acids

Organic compounds that serve as the building blocks for proteins, essential to numerous processes in living organisms.

Triglycerides

A type of fat (lipid) found in your blood, made up of a glycerol molecule attached to three fatty acids, used by the body for energy or stored as fat.

Phospholipids

A class of lipids that are a major component of all cell membranes; they form bilayers that function as barriers to ions and molecules.

Macromolecule

Large molecules necessary for life, including proteins, nucleic acids, carbohydrates, and lipids.